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15 U.S.C. § 3605 — Notice of conversion and opportunity to purchase; responsibility of State and local governments

submitted 46 years ago by Pub. L. 96-399 to r/title-15-COMMERCE-AND-TRADE · 115 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section states Congress’s view that tenants should receive notice and the first chance to buy when multifamily rental housing is converted. It leaves responsibility for providing that opportunity to State and local governments.

It is the sense of the Congress that, when multifamily rental housing projects are converted to condominium or cooperative use, tenants in those projects are entitled to adequate notice of the pending conversion and to receive the first opportunity to purchase units in the converted projects and that State and local governments which have not already provided for such notice and opportunity for purchase should move toward that end. The Congress believes it is the responsibility of State and local governments to provide for such notice and opportunity to purchase in a prompt manner. The Congress has decided not to intervene and therefore leaves this responsibility to State and local governments to be carried out.

the actual law source: uscode.house.gov ↗public domain

It is the sense of the Congress that, when multifamily rental housing projects are converted to condominium or cooperative use, tenants in those projects are entitled to adequate notice of the pending conversion and to receive the first opportunity to purchase units in the converted projects and that State and local governments which have not already provided for such notice and opportunity for purchase should move toward that end. The Congress believes it is the responsibility of State and local governments to provide for such notice and opportunity to purchase in a prompt manner. The Congress has decided not to intervene and therefore leaves this responsibility to State and local governments to be carried out.

Source credit: (Pub. L. 96–399, title VI, § 606, Oct. 8, 1980, 94 Stat. 1676.)

history & why it existsrecord from the source credit
  • 1980Enacted · Pub. L. 96-399 · 94 Stat. 1676

A history note hasn’t been published yet. The record shows enactment by Pub. L. 96-399 on 1980-10-08.

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