Sale of Your Park
State law helps tenants protect themselves from displacement due to the sale of their park by giving them the chance to buy the park. Before a park can be sold, the owner must notify each household by certified mail:
that he/she intends to sell the park, and
the price, terms, and conditions for which she/he intends to sell the park and a copy of the agreement (signed document) between the park owner and prospective buyer if an offer has been received and conditionally accepted, by the park owner.
The owner must wait sixty (60) days before making a final acceptance of an offer to sell the park to someone other than the tenants. During that time, he/she must negotiate in good faith with the tenants if they wish to purchase the park. The law requires that the tenants be given a reasonable time beyond the 60 days to obtain financing for the purchase. An owner can be charged the higher of $10,000 or 10% of the park’s sale price in damages for violating this notice requirement.
If you receive such a notice from your park owner, you have a right to meet with your neighbors to discuss trying to buy your park. The organizations listed below have extensive experience in organizing cooperatives in purchasing their park.
New Hampshire Community Loan Fund
7 Wall Street, Concord, NH 03301
Telephone: (603) 224-6669
website: https://communityloanfund.org/
Manufactured Home Owners & Tenants Association (MOTA) of New Hampshire
Telephone: (603) 224-0408
website: www.mota-nh.org
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Date: February 2020Author: Legal Advice & Referral Center