Current through Register 1533, October 25, 2024
Section 10.09 - Sale or Lease of a Manufactured Housing Community(1)Unfair or Deceptive Acts or Practices: General. It shall be an unfair or deceptive act or practice in violation of M.G.L. c. 93A for an operator to fail: (a) to give notice of any intention to sell or lease all or part of the manufactured housing community, as required under M.G.L. c. 140, § 32R(a);(b) to give notice of an offer for such a sale or lease that the operator intends to accept, to the extent required under M.G.L. c. 140, § 32R(b); or(c) to unreasonably refuse to enter into, or to unreasonably delay the execution or closing on, a purchase and sale agreement or lease with residents who have exercised their right of first refusal to purchase or lease the community under M.G.L. c. 140, § 32R(c) by making a bona fide offer as set forth therein.(2)Notice of Proposed Sale or Lease. A bona fide offer by a third party that the operator intends to accept for purposes of M.G.L. c. 140, § 32R(b) shall include any offer, except under any of the circumstances described in the last sentence of M.G.L. c. 140, § 32R(d).(3)Residents' Right of First Refusal to Purchase or Lease. For purposes of determining residents' rights to purchase and lease under M.G.L. c. 140, § 32R(c): (a) "reasonable evidence that the residents of at least 51% of the occupied homes in the community have approved the purchase of the community by such group or association" shall include, without limitation, a document signed by such persons; and(b) "a binding commitment for any necessary financing or guarantees" shall include, without limitation, a contract subject to customary and commercially reasonable pre closing and closing conditions.