Establishes the "tenant opportunity to purchase act"; prevents the displacement of middle and lower-income tenants in New York; preserves affordable.

The Tenant Opportunity to Purchase Act (TOPA) aims to prevent the displacement of middle and lower-income tenants in New York by offering them the opportunity to purchase or remain in their rental properties. The act requires owners to offer tenants, tenant organizations, and qualified purchasers a chance to purchase the property at a price and terms comparable to those offered to third-party buyers. It includes provisions for tenant organizations, supportive partners, and qualified purchasers, who must meet specific criteria to participate.

Establishes the "tenant opportunity to purchase act"; prevents the displacement of middle and lower-income tenants in New York; preserves affordable.

The Tenant Opportunity to Purchase Act (TOPA) aims to prevent the displacement of middle and lower-income tenants in New York by offering them the opportunity to purchase or remain in their rental properties. The act requires owners to offer tenants, tenant organizations, and qualified purchasers a chance to purchase the property at a price and terms comparable to those offered to third-party buyers. It includes provisions for tenant organizations, supportive partners, and qualified purchasers, who must meet specific criteria to participate.