Allows residents of Chapter 40B properties purchased before 2010 to sell at fair market value.

This bill amends Chapter 40B to allow residents who purchased their properties under this chapter before 2010 to sell their properties at fair market value. Upon sale, the 40B status of the property is removed, and it is classified as any other non-unique property. The town or city where the property is sold must ensure that future residential development includes a proportional number of affordable housing units to compensate for the reduction in such units.

Allows residents of Chapter 40B properties purchased before 2010 to sell at fair market value.

This bill amends Chapter 40B to allow residents who purchased their properties under this chapter before 2010 to sell their properties at fair market value. Upon sale, the 40B status of the property is removed, and it is classified as any other non-unique property. The town or city where the property is sold must ensure that future residential development includes a proportional number of affordable housing units to compensate for the reduction in such units.