Michigan Compiled Laws
Act 84 of 1999 - Urban Homesteading in Multifamily Public Housing Act (125.2721 - 125.2734)
Section 125.2729 - Right of First Refusal.

Sec. 9.
For 5 years after a qualified buyer takes ownership of a unit under this act, the resident organization or successor entity has a right of first refusal if the qualified buyer desires to sell his or her unit acquired under this act. During the 5-year period, the resident organization or successor entity may repurchase the unit at the fair market price if the qualified buyer sells the unit. During the 5-year period, the qualified buyer shall not rent out or lease his or her unit or allow any other nonfamily member to reside in the unit.
History: 1999, Act 84, Imd. Eff. June 28, 1999

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 125 - Planning, Housing, and Zoning

Act 84 of 1999 - Urban Homesteading in Multifamily Public Housing Act (125.2721 - 125.2734)

Section 125.2721 - Short Title.

Section 125.2722 - Definitions.

Section 125.2723 - Urban Homestead Program in Multifamily Public Housing; Availability of Property to Qualified Buyers; Resolution; Appeals Process to Applicants and Buyers.

Section 125.2724 - Acquisition of Housing Project by Resident Organization; Conditions; Payment of Fees and Operation Subsidies; Management Training and Counseling; Application for Grant Funds.

Section 125.2725 - Transfer of Legal Ownership.

Section 125.2726 - Acquisition of Public Housing Property; Eligibility to Enter Homestead Agreement; Substance Abuse Testing; Verification of School Attendance.