§ 26-803 Notification of bona fide offer to purchase.
AC § 26-803
(a)If the owner receives a bona fide offer to purchase and intends to consider, or respond to such bona fide offer to purchase, then notice shall be provided by the owner to a tenant association, or if no tenant association exists, to each tenant, or if applicable, a qualified entity, and the department, no more than fifteen days from the date that such bona fide offer to purchase is delivered to the owner. Such notice shall contain the following information: (1) The name and address of the proposed bona fide purchaser; and (2) The price and terms and conditions of the offer; (b) The owner shall not be required to provide notice in accordance with subdivision a of this section if the bona fide purchaser making the offer agrees to maintain the assisted rental housing as affordable. The bona fide purchaser shall be required to inform the department as to how such bona fide purchaser intends to keep the assisted rental housing as affordable. Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2005/079.
