                                 CODE OF VIRGINIA

NOTICE OF INTENT TO SELL (§ 55.1-1308.2)

A. A manufactured home park owner who offers or lists the park for sale to a
third party shall provide written notice containing the date on which the notice
is sent and the price for which the park is to be offered or listed for sale.
Such notice shall be sent to the Department of Housing and Community
Development, which shall make the information available on its website within
five business days of receipt. Such written notice shall also be given to each
tenant of the manufactured home park, in accordance with &#xA7; 55.1-1202, at
least 90 days prior to accepting an offer. A manufactured home park owner shall
consider any offers to purchase received during such 90-day notice period. For
purposes of this section, &#8220;third party&#8221; does not include a member of
the manufactured park owner&#8217;s family by blood or marriage or a person or
entity that owns a portion of the park at the time of the offer or listing of
such manufactured home park. Nothing shall be construed to require any
subsequent notice by the manufactured home park owner after the written notice
provided in this section.

B. If a manufactured home park owner receives an offer to purchase the park,
acceptance of that offer shall be contingent upon the park owner sending written
notice of the proposed sale and the purchase price in the real estate purchase
contract at least 60 days before the closing date on such purchase contract to
the Department of Housing and Community Development, which shall place the
information on its website within five business days of receipt. Such written
notice shall also be given to each tenant of the manufactured home park. During
the 60-day notice period, the park owner shall consider additional offers to
purchase the park made by an entity that provides documentation that it
represents at least 25 percent of the tenants with a valid lease in the
manufactured home park at the time any such offer is made, but shall not be
obligated to consider additional offers after the expiration of the 60-day
notice period. Nothing shall be construed to require any subsequent notice by
the manufactured home park owner after provision of the written notice required
by this section.

HISTORY: 2020, c. 751,  § 55.1-1308.1.