Sec. 7-61
- Citation
- Sec. 7-61
- Parent Document
- Somerville Code of Ordinances ch. 7, art. IV (Condominium/Cooperative Conversion)
- Jurisdiction
- Somerville (municipal)
Other Sections in This Document (153)
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Full Text
742 charsthat, except as set forth in section 7-64(d)(2), the owner shall extend to the tenant within 120 days, or 180 days in the case of an elderly, disabled, or low/moderate income tenant, from the date of the notice, a right to purchase the tenant’s unit. The offer shall include terms and conditions which are substantially the same as or more favorable than those which the owner would, in good faith, extend or actually extends to prospective arm’s length purchasers of such unit during the applicable period following the expiration of said tenant’s right to purchase, as provided in section 7-64(d), provided that such terms and conditions represent fair market value for such unit in “as is” condition as described in section 7-64(d)(1); (D)