Requires multiple dwelling building owners to provide notice to tenants and tenant associations of certain sales and provides tenant association with opportunity to purchase multiple dwelling.

Summary

The bill requires owners of multiple‑dwelling buildings to inform the Department of Community Affairs, the building’s tenant association, and each tenant household when they plan to sell. If a tenant association represents at least 51 % of the occupied units, it receives a right of first offer to purchase the building before the owner can accept a third‑party buyer. The owner is not forced to sell to the association, but must provide the opportunity and notice as outlined.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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