Md. Code Regs. 05.22.01.06

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.22.01.06 - Form of Notice of Right of First Refusal

A. The notice delivered to tenants under this chapter shall contain, at minimum, the following information:

(1) The sales price proposed in the third-party offer to purchase;

(2) A conspicuous statement that the notice is a solicitation of an offer to purchase and is not intended as and may not be construed as a binding contract of sale; and

(3) Any information regarding deadlines for the tenant to submit an offer to purchase.

B. The notice delivered to tenants under this chapter shall be in the form provided in Appendix C of this subtitle.

C. The Office shall make the form provided in Appendix C of this subtitle available on its public website in a format allowing residential rental property owners to populate the blank sections of the form, download the form, and print the form for delivery to tenants.

D. The Office may, from time to time, with the approval of the Secretary, edit or amend the form provided in Appendix C of this subtitle to facilitate compliance with Real Property Article, §§ 8-119(d) and 8-120, Annotated Code of Maryland, or other applicable law, as appropriate.

Md. Code Regs. 05.22.01.06

Regulation .06± adopted effective 51:20 Md. R. 898, eff. 10/14/2024.