HF 3476

FIRST ENGROSSMENT

Foreclosure; tenant notice required relating to foreclosures.

Section 1: Restriction on residential lease terms for buildings in financial distress; required notice of pending foreclosure language is modified.
Subdivision 1. Limitation on lease and notice to tenant.
Subdivision 2. Exception allowing a longer term lease.
Subdivision 3: Transfer of tenancy.
Subdivision 4. Holder not bound by certain acts.

Section 2: Withholding rent language is modified.

Section 3: Grounds language is modified.

SNA 3/12/08