<a id="pl.1.3"></a><var>1.3</var>home park is being sold;amending Minnesota Statutes 2006, sections 327C.095, <br/>
<a id="pl.1.4"></a><var>1.4</var>subdivisions 6, 7, 9; 327C.096; repealing Minnesota Statutes 2006, section <br/>
<a id="pl.1.5"></a><var>1.5</var>327C.095, subdivision 8.<br/>
<a id="pl.1.6"></a><var>1.6</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br/>
<br/>
<a id="bill.0.1.0"></a><a id="pl.1.7"></a><var>1.7</var>    Section 1. Minnesota Statutes 2006, section 327C.095, subdivision 6, is amended to <br/>
<a id="pl.1.8"></a><var>1.8</var>read:<br/>
<a id="pl.1.9"></a><var>1.9</var>    Subd. 6. <b>Intent to convert use of park at time of purchase</b><b>; resident right of first </b><br/>
<a id="pl.1.10"></a><var>1.10</var><b>refusal</b><b>.</b> (a) Before the execution of an agreement to purchase a manufactured home park, <br/>
<a id="pl.1.11"></a><var>1.11</var>the purchaser must notify the park owner, in writing, if the purchaser intends to close the <br/>
<a id="pl.1.12"></a><var>1.12</var>manufactured home park or convert it to another use within one year of the execution of <br/>
<a id="pl.1.13"></a><var>1.13</var>the agreement. The park owner shall provide a resident of each manufactured home with a <br/>
<a id="pl.1.14"></a><var>1.14</var>45-day 90-day written notice of the purchaser's intent to close the park or convert it to <br/>
<a id="pl.1.15"></a><var>1.15</var>another use, and offer the park for sale to the residents. The notice must state that the park <br/>
<a id="pl.1.16"></a><var>1.16</var>owner will provide information on the cash price and the terms and conditions of the <br/>
<a id="pl.1.17"></a><var>1.17</var>purchaser's offer to residents requesting the information. The notice must be sent by first <br/>
<a id="pl.1.18"></a><var>1.18</var>class mail to a resident of each manufactured home in the park. The notice period begins <br/>
<a id="pl.1.19"></a><var>1.19</var>on the postmark date affixed to the notice and ends 45 90 days after it begins. <br/>
<a id="pl.1.20"></a><var>1.20</var>(b) During the notice period required in this subdivision, the following shall have <br/>
<a id="pl.1.21"></a><var>1.21</var>the right to purchase the park by meeting the cash price and executing an agreement <br/>
<a id="pl.1.22"></a><var>1.22</var>to purchase the park for the purpose of keeping the park as a manufactured housing <br/>
<a id="pl.1.23"></a><var>1.23</var>community:<br/>
<a id="pl.1.24"></a><var>1.24</var>(1) the owners of at least 51 percent of the manufactured homes in the park or; <br/>
<a id="pl.2.1"></a><var>2.1</var>(2) a nonprofit organization which has the written permission of the owners of at <br/>
<a id="pl.2.2"></a><var>2.2</var>least 51 percent of the manufactured homes in the park to represent them in the acquisition <br/>
<a id="pl.2.3"></a><var>2.3</var>of the park shall have the right to meet the cash price and execute an agreement to purchase <br/>
<a id="pl.2.4"></a><var>2.4</var>the park for the purposes of keeping the park as a manufactured housing community; or<br/>
<a id="pl.2.5"></a><var>2.5</var>(3) a resident-owned cooperative formed under either chapter 308A or 308B, unless <br/>
<a id="pl.2.6"></a><var>2.6</var>a majority of the residents object, in writing, to a conversion under either chapter 308A or <br/>
<a id="pl.2.7"></a><var>2.7</var>308B within 30 days after receipt of notice of an attempt to convert to a cooperative. <br/>
<a id="pl.2.8"></a><var>2.8</var>(c) The park owner must accept the offer if it meets the cash price and the same <br/>
<a id="pl.2.9"></a><var>2.9</var>terms and conditions set forth in the purchaser's offer except that the seller is not obligated <br/>
<a id="pl.2.10"></a><var>2.10</var>to provide owner financing. For purposes of this section, cash price means the cash price <br/>
<a id="pl.2.11"></a><var>2.11</var>offer or equivalent cash offer as defined in section 
         <statute_ref>500.245, subdivision 1</statute_ref>, paragraph (d). <br/>
<br/>
<a id="bill.0.2.0"></a><a id="pl.2.12"></a><var>2.12</var>    Sec. 2. Minnesota Statutes 2006, section 327C.095, subdivision 7, is amended to read:<br/>
<a id="pl.2.13"></a><var>2.13</var>    Subd. 7. <b>Intent to </b><b>close or</b><b> convert use of park after purchase.</b> (a) If the purchaser <br/>
<a id="pl.2.14"></a><var>2.14</var>of a manufactured home park decides to close or convert the park to another use within <br/>
<a id="pl.2.15"></a><var>2.15</var>one year  within three years after the purchase of the park, the purchaser must offer the <br/>
<a id="pl.2.16"></a><var>2.16</var>park for purchase by the residents of the park at a cash price equal to the tax assessed or <br/>
<a id="pl.2.17"></a><var>2.17</var>market appraised value of the property as determined by an appraisal conducted by an <br/>
<a id="pl.2.18"></a><var>2.18</var>independent appraisal agreed upon by both parties. For purposes of this subdivision, the <br/>
<a id="pl.2.19"></a><var>2.19</var>date of purchase is the date of the transfer of the title to the purchaser. <br/>
<a id="pl.2.20"></a><var>2.20</var>(b) The purchaser must provide a resident of each manufactured home with a <br/>
<a id="pl.2.21"></a><var>2.21</var>written notice of the intent to close the park and all of the owners of at least 51 percent <br/>
<a id="pl.2.22"></a><var>2.22</var>of the manufactured homes in the park or a nonprofit organization which has the written <br/>
<a id="pl.2.23"></a><var>2.23</var>permission of the owners of at least 51 percent of the manufactured homes in the park <br/>
<a id="pl.2.24"></a><var>2.24</var>to represent them in the acquisition of the park. The following  shall have 45 90 days to <br/>
<a id="pl.2.25"></a><var>2.25</var>execute an agreement for the purchase of the park at a cash price equal to the original <br/>
<a id="pl.2.26"></a><var>2.26</var>purchase price paid by the purchaser plus any documented expenses relating to the <br/>
<a id="pl.2.27"></a><var>2.27</var>acquisition and improvement of the park property, together with any increase in value <br/>
<a id="pl.2.28"></a><var>2.28</var>due to appreciation of the park:<br/>
<a id="pl.2.29"></a><var>2.29</var>(1) all of the owners of at least 51 percent of the manufactured homes in the park;<br/>
<a id="pl.2.30"></a><var>2.30</var>(2) a nonprofit organization which has the written permission of the owners of at <br/>
<a id="pl.2.31"></a><var>2.31</var>least 51 percent of the manufactured home in the park to represent them in the acquisition <br/>
<a id="pl.2.32"></a><var>2.32</var>of the park; or<br/>
<a id="pl.2.33"></a><var>2.33</var>(3) a resident-owned cooperative formed under either chapter 308A or 308B, unless <br/>
<a id="pl.2.34"></a><var>2.34</var>a majority of the residents object, in writing, to a conversion under either chapter 308A or <br/>
<a id="pl.2.35"></a><var>2.35</var>308B within 30 days after receipt of notice of an attempt to convert to a cooperative. <br/>
<a id="pl.3.1"></a><var>3.1</var>(c) The purchaser must execute the purchase agreement at the price specified in this <br/>
<a id="pl.3.2"></a><var>3.2</var>subdivision and pay the cash price within 90 days of the date of the purchase agreement. <br/>
<a id="pl.3.3"></a><var>3.3</var>The notice must be sent by first class mail to a resident of each manufactured home in <br/>
<a id="pl.3.4"></a><var>3.4</var>the park. The notice period begins on the postmark date affixed to the notice and ends <br/>
<a id="pl.3.5"></a><var>3.5</var>45 90 days after it begins.<br/>
<br/>
<a id="bill.0.3.0"></a><a id="pl.3.6"></a><var>3.6</var>    Sec. 3. Minnesota Statutes 2006, section 327C.095, subdivision 9, is amended to read:<br/>
<a id="pl.3.7"></a><var>3.7</var>    Subd. 9. <b>Effect of noncompliance.</b> If a manufactured home park is finally sold or <br/>
<a id="pl.3.8"></a><var>3.8</var>converted to another use in violation of subdivision 6 or 7, the residents do not have any <br/>
<a id="pl.3.9"></a><var>3.9</var>continuing right to purchase the park as a result of that sale or conversion. A violation <br/>
<a id="pl.3.10"></a><var>3.10</var>of subdivision 6 or 7 is subject to section 
         <statute_ref>8.31</statute_ref>, except that relief shall be limited so that <br/>
<a id="pl.3.11"></a><var>3.11</var>questions of marketability of title shall not be affected. <br/>
<br/>
<a id="bill.0.4.0"></a><a id="pl.3.12"></a><var>3.12</var>    Sec. 4. Minnesota Statutes 2006, section 327C.096, is amended to read:<br/>
<a id="pl.3.13"></a><var>3.13</var><b>327C.096 NOTICE OF SALE </b><b>AND RIGHT OF FIRST REFUSAL</b><b>.</b><br/>
<a id="pl.3.14"></a><var>3.14</var>    Subdivision 1. <b>Notice of offer of sale.</b> When a park owner offers to sell a <br/>
<a id="pl.3.15"></a><var>3.15</var>manufactured home park to the public through advertising in a newspaper or by listing <br/>
<a id="pl.3.16"></a><var>3.16</var>the park with a realtor licensed by the Department of Commerce, the owner must provide <br/>
<a id="pl.3.17"></a><var>3.17</var>concurrent written notice to a resident of each manufactured home in the park that the <br/>
<a id="pl.3.18"></a><var>3.18</var>park is being offered for sale. Written notice provided once within a one-year period <br/>
<a id="pl.3.19"></a><var>3.19</var>satisfies the requirement under this section. The notice provided by the park owner to a <br/>
<a id="pl.3.20"></a><var>3.20</var>resident of each manufactured home does not grant any property rights in the park and is <br/>
<a id="pl.3.21"></a><var>3.21</var>for informational purposes only. This section does not apply in the case of a taking by <br/>
<a id="pl.3.22"></a><var>3.22</var>eminent domain, a transfer by a corporation to an affiliate, a transfer by a partnership to <br/>
<a id="pl.3.23"></a><var>3.23</var>one or more of its partners, or a sale or transfer to a person who would be an heir of <br/>
<a id="pl.3.24"></a><var>3.24</var>the owner if the owner were to die intestate. If at any time a manufactured home park <br/>
<a id="pl.3.25"></a><var>3.25</var>owner receives an unsolicited bona fide offer to purchase the park that the owner intends <br/>
<a id="pl.3.26"></a><var>3.26</var>to consider or make a counter offer to, the owner is under no obligation to notify the <br/>
<a id="pl.3.27"></a><var>3.27</var>residents as required under this section.<br/>
<a id="pl.3.28"></a><var>3.28</var>    Subd. 2. <b>Notice required before sale.</b> No manufactured home park owner <br/>
<a id="pl.3.29"></a><var>3.29</var>shall make a final unconditional acceptance of any offer for the sale or transfer of a <br/>
<a id="pl.3.30"></a><var>3.30</var>manufactured home park without first giving to each park resident 90-days' notice:<br/>
<a id="pl.3.31"></a><var>3.31</var>(1) that the owner intends to sell the manufactured home park; and<br/>
<a id="pl.3.32"></a><var>3.32</var>(2) of the price, terms, and conditions of an acceptable offer the park owner has <br/>
<a id="pl.3.33"></a><var>3.33</var>received to sell the park or the price, terms, and conditions for which the park owner <br/>
<a id="pl.3.34"></a><var>3.34</var>intends to sell the park.<br/>
<a id="pl.4.1"></a><var>4.1</var>The notice must include a copy of the signed written offer which sets forth a <br/>
<a id="pl.4.2"></a><var>4.2</var>description of the property to be purchased and the price, terms, and conditions of the <br/>
<a id="pl.4.3"></a><var>4.3</var>acceptable offer.<br/>
<a id="pl.4.4"></a><var>4.4</var>    Subd. 3. <b>Right of first refusal.</b> During the notice period provided in subdivision 2, <br/>
<a id="pl.4.5"></a><var>4.5</var>the manufactured home park owner must offer the park for purchase by the residents of <br/>
<a id="pl.4.6"></a><var>4.6</var>the park as a cooperative under chapter 308A or 308B or a nonprofit organization with <br/>
<a id="pl.4.7"></a><var>4.7</var>the written permission of the owners of at least 51 percent of the manufactured home <br/>
<a id="pl.4.8"></a><var>4.8</var>in the park to represent them in the acquisition of the park. During the notice period, <br/>
<a id="pl.4.9"></a><var>4.9</var>the cooperative or nonprofit shall have the right to meet the cash price and execute an <br/>
<a id="pl.4.10"></a><var>4.10</var>agreement to purchase the park for the purposes of keeping the park as a manufactured <br/>
<a id="pl.4.11"></a><var>4.11</var>housing community.<br/>
<a id="pl.4.12"></a><var>4.12</var>    Subd. 4. <b>Exceptions.</b> This section does not apply in the case of a taking by eminent <br/>
<a id="pl.4.13"></a><var>4.13</var>domain, a transfer by a corporation to an affiliate, a transfer by a partnership to one or <br/>
<a id="pl.4.14"></a><var>4.14</var>more of its partners, or a sale or transfer to a person who would be an heir of the owner if <br/>
<a id="pl.4.15"></a><var>4.15</var>the owner were to die intestate.<br/>
<br/>
<a id="bill.0.5.0"></a><a id="pl.4.16"></a><var>4.16</var>    Sec. 5. <b> REPEALER.</b><br/>
<a id="pl.4.17"></a><var>4.17</var>Minnesota Statutes 2006, section 327C.095, subdivision 8, is repealed.<br/>