§ 85-349. Sale of homes.

A. 

A homeowner has the right to sell his or her home in the planned retirement community without unreasonable, arbitrary restrictions being placed thereon by the planned retirement community owner or operator.

(1) 

The right to sell a planned retirement community home includes the incidental right to use any and all methods common to sales of residential property.

(2) 

The homeowner's lease agreement shall be assignable to subsequent purchasers, without unreasonable or arbitrary conditions or restrictions by the planned retirement community owner or operator.

(3) 

The planned retirement community owner or operator shall not exact a commission or fee with respect to the price realized by the homeowner/seller unless the planned retirement community owner or operator has acted as agent for the homeowner in the sale pursuant to a written contract.

B. 

Notice of sale; homeowner rights; exceptions.

(1) 

If the owner of a planned retirement community offers a unit for sale or receives a bona fide offer to purchase that the owner intends to consider or to respond to with a counteroffer, the owner shall deliver written notice of the offer to all homeowners residing within the planned retirement community within 30 days, stating the price, terms and conditions of sale. Delivery of such written notice shall be in person or by certified mail.

(2) 

The homeowners, by and through a homeowners' association, shall have a first option to purchase the unit, provided that they meet the price, terms and conditions of the planned retirement community owner within 90 days after the date of delivery of the notice, unless otherwise agreed. If a contract between the planned retirement community owner and the homeowners' association is not executed within such ninety-day period, then, unless the planned retirement community owner thereafter elects to offer or accept an offer to purchase the unit at a price lower than the prices specified in the notice to the homeowners, the planned retirement community owner has no further obligations under this section.

(3) 

If the planned retirement community owner thereafter elects to offer or to accept an offer to purchase the unit at a price lower than the price specified in the notice to the homeowners, the homeowners, by and through a homeowners' association, shall have an additional 30 days to meet the price, terms and conditions of the planned retirement community owner by executing a contract.

(4) 

This section shall not apply to:

(a) 

Any transfer by gift, devise or operation of law.

(b) 

Any transfer by a corporation to an affiliate.

(c) 

Any conveyance of an interest in a planned retirement community unit incidental to the financing of the planned retirement community.

(d) 

Any conveyance resulting from the foreclosure of a mortgage, deed of trust or other instrument encumbering a planned retirement community or any deed given in lieu of such foreclosure.

(e) 

Any sale or transfer between or among joint tenants or tenants in common owning a planned retirement community.

(f) 

The acquisition of a planned retirement community unit by a government entity under its power of eminent domain.

(g) 

A planned retirement community unit that is specifically limited to the utilization as a planned retirement community unit through a Town ordinance.

(5) 

In the event that the owner of a planned retirement community loses title to the County of Suffolk for the underlying real property for nonpayment of taxes, then the right of first refusal set forth above may be exercised by any homeowner residing within the planned retirement community, by and through a homeowners' association, in accordance with the provisions of this section as if a bona fide offer to purchase had been made to a planned retirement community owner.

Added 2-26-2015 by L.L. No. 2-2015, effective 3-9-2015