Del. Code tit. 25 § 7034

Current through 2024 Legislative Session Act Chapter 269
Section 7034 - Right of first offer; failure to complete sale

If, for any reason except default by the community owner, the home owner association and the community owner do not complete the sale within the 90-day period under § 7033(c) of this title before the expiration of the extension period agreed to by the parties under § 7033(d) of this title, the right of first offer obligations of the community owner to the home owner association are terminated, and the community owner may sell, transfer, or convey all or part of the community to any third party at the price offered in the right of first offer, or at a higher price or lower price, for the remainder of the 12-month period that commences on the date of the community owner's notice of intention to sell, transfer, or convey all or part of the community.

25 Del. C. § 7034

Added by Laws 2019, ch. 38,s 32, eff. 12/10/2019.