Texas SB2762 mandates landlords to offer tenants a right of first refusal when selling a manufactured home community, with specific timelines and.

Texas SB2762 amends the Property Code to introduce a right of first refusal for tenants in a manufactured home community when the landlord plans to sell the property. Landlords must provide tenants with this right unless the sale is to a family member, a family trust, a housing authority, a nonprofit organization, or a tribal governmental entity. Tenants can form an association to exercise this right if over 50% of them wish to do so. The landlord must notify tenants by certified mail within 14 days of receiving a purchase offer and post a form detailing the offer terms in a common area.

Texas SB2762 mandates landlords to offer tenants a right of first refusal when selling a manufactured home community, with specific timelines and.

Texas SB2762 amends the Property Code to introduce a right of first refusal for tenants in a manufactured home community when the landlord plans to sell the property. Landlords must provide tenants with this right unless the sale is to a family member, a family trust, a housing authority, a nonprofit organization, or a tribal governmental entity. Tenants can form an association to exercise this right if over 50% of them wish to do so. The landlord must notify tenants by certified mail within 14 days of receiving a purchase offer and post a form detailing the offer terms in a common area.