(a) This section applies if the owner’s offer is not accepted and the acceptance period under § 7-205(c) of this subtitle has expired.
(b) The owner may sell or convey the assisted project to any person on terms and conditions not more favorable to the purchaser than those of the owner’s offer.
(c) The owner may sell or convey the assisted project on terms and conditions more favorable to the purchaser than those of the original offer under this subtitle only after the owner again offers the right of first purchase as required by this subtitle based on the new terms and conditions.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 7 - Assisted Housing Preservation Act
Subtitle 2 - Protected Actions
Section 7-201 - Notice of Intent -- Required
Section 7-202 - Notice of Intent -- Contents
Section 7-203 - Prerequisites for Taking Protected Action
Section 7-204 - Right of First Purchase -- Offer
Section 7-205 - Right of First Purchase -- Terms; Appraisal; Price Adjustment
Section 7-206 - Sale or Conveyance if Owner's Offer Is Not Accepted
Section 7-207 - Additional Required Notices
Section 7-208 - Covenants as to Use of Property
Section 7-209 - Right of First Purchase -- Assignment
Section 7-210 - Right of First Purchase -- Political Subdivisions and Housing Authorities
Section 7-211 - Right of First Purchase -- No Application to Plan of Action
Section 7-212 - Tenant Protection Assistance
Section 7-213 - Designated Household
Section 7-214 - Extended Leases for Designated Households -- in General
Section 7-215 - Extended Leases for Designated Households -- Sale or Conveyance of Assisted Project
Section 7-216 - Extended Leases for Designated Households -- Application
Section 7-217 - Extended Leases for Designated Households -- Additional Notice
Section 7-218 - Termination by Designated Household