LD 760
pg. 2
Page 1 of 2 An Act To Protect the Rights of Leaseholders and Ensure Their Continued Access ... LD 760 Title Page
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LR 1557
Item 1

 
A.__Termination provisions of the lease to the extent
inconsistent with this section are void, beginning on the
date the notice is provided;

 
B.__The lessee may terminate the lease earlier than the
effective date provided in the notice; and

 
C.__If the lessee violates the lease during the period
between the giving of the notice and the termination date
provided in the notice, this section no longer applies and
the lessee has only the rights provided in the lease.

 
For purposes of this subsection, "cause" means violation by a
lessee of a term of a lease.

 
§6050.__Right of first refusal

 
A lessee of premises on which a structure owned by the
lessee exists has the right of first refusal with regard to
the leased premises if the lessor intends to sell or to offer
to sell the leased premises as a separate parcel.__Each lease
subject to this chapter must make provision for a method of
determining the sale price of the leased premises upon
exercise of the right provided in this section.__The lessor
must give the lessee at least 90 days to accept the offer to
purchase the lot.

 
If title to the land on which a lease exists is transferred
to a different owner after September 30, 2003, the lessee at
the time of transfer has the right of first refusal with
regard to subsequent leases of the land.

 
SUMMARY

 
This bill allows a lessee the right of first refusal to
continue leasing a parcel of land when the land is transferred
to a different owner and the new owner intends to continue
leasing the land.

 
This bill also corrects a conflict created by Public Law
2001, chapter 612 and chapter 653, which enacted substantively
similar provisions using the same section numbers.


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