(a)The requirements of this subtitle apply separately to each substantially different offer to sell or to purchase a manufactured housing community.
(b)This subtitle does not apply to the potential sale of a manufactured housing community if:
(1)A mortgagee, grantee, or other secured party has foreclosed on the manufactured housing community and the mortgagee, grantee, or secured party is selling the manufactured housing community:
(i)At a foreclosure sale; or
(ii)After purchasing the manufactured housing community at a foreclosure sale;
(2)The community owner is selling the manufactured housing community to:
(i)A family member of the community owner; or
(ii)A trust whose beneficiarie
Free access — add to your briefcase to read the full text and ask questions with AI
(a) The requirements of this subtitle apply separately to each substantially different offer to sell or to purchase a manufactured housing community.
(b) This subtitle does not apply to the potential sale of a manufactured housing community if:
(1) A mortgagee, grantee, or other secured party has foreclosed on the manufactured housing community and the mortgagee, grantee, or secured party is selling the manufactured housing community:
(i) At a foreclosure sale; or
(ii) After purchasing the manufactured housing community at a foreclosure sale;
(2) The community owner is selling the manufactured housing community to:
(i) A family member of the community owner; or
(ii) A trust whose beneficiaries are family members of the community owner;
(3) The community owner is a partnership, limited liability company, or similar business entity and the sale is to one or more of the partners or members of the business entity;
(4) The conveyance of an interest in the manufactured housing community is incidental to the financing of the manufactured housing community;
(5) The sale of the manufactured housing community is between joint tenants or tenants in common;
(6) The sale of the manufactured housing community is a result of the exercise of the power of eminent domain;
(7) The sale of the manufactured housing community involves a merger, recapitalization, or similar transaction where:
(i) At least one community owner prior to the transaction remains a community owner after the transaction; and
(ii) The community owner files an affidavit, recorded in the land records in the county in which the property is located, affirming that the community owner will allow continued use of the land as a manufactured housing community for at least 6 months after the date the transaction is finalized; or
(8) The sale of the manufactured housing community involves:
(i) A like–kind exchange; or
(ii) A sale of more than one home in the community to a single purchaser.