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2007 SESSION

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SB 268 Condominium Act; allows elderly or disabled tenants in conversion units to assign purchase right.

Introduced by: Mary Margaret Whipple | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Condominium Act; conversion condominiums. Provides that tenants residing in a county where the urban county executive form of government is in effect (Fairfax County) shall have the right to transfer their right to purchase their units to the local housing authority or a qualified nonprofit organization actively engaged in producing and preserving affordable housing as determined by such county. The acquisition of such units by the local housing authority or such qualified nonprofit organization shall not (i) exceed the greater of one unit or five percent of the total number of units in the condominium and (ii) impede the condominium conversion process. In determining which, if any, units shall be acquired pursuant to this section, preference shall be given to elderly or disabled tenants. The bill contains a technical amendment.


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