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District of Columbia Affidavit - Tenant Opportunity to Purchase

State:
District of Columbia
Control #:
DC-S003ST
Format:
Word; 
Rich Text
Instant download

Description

Execution of this Affidavit evidences of tenants approval and acceptance of the proposed sale of Property to Purchaser and the election not to exercise his/her Purchase Right and Right of First Refusal under the Act. The District of Columbia Affidavit — Tenant Opportunity to Purchase is a legal document that gives tenants in the District of Columbia the right to purchase the property they are renting before the owner can list it for sale on the open market. This document provides tenants with the opportunity to purchase the property at a price that is at least as favorable as the price offered to other potential buyers. The document must be signed by both the tenant and the owner and notarized in order for it to be legally binding. There are two types of District of Columbia Affidavit — Tenant Opportunity to Purchase: the first is called the Tenant Opportunity to Purchase Act (TOP), which is a law that applies to all rental properties in the District of Columbia; the second is known as the Tenant Opportunity to Purchase Amendment Act (TOPAZ), which is a more detailed version of TOP that applies to certain types of rental properties, including those that are subsidized or publicly owned.

The District of Columbia Affidavit — Tenant Opportunity to Purchase is a legal document that gives tenants in the District of Columbia the right to purchase the property they are renting before the owner can list it for sale on the open market. This document provides tenants with the opportunity to purchase the property at a price that is at least as favorable as the price offered to other potential buyers. The document must be signed by both the tenant and the owner and notarized in order for it to be legally binding. There are two types of District of Columbia Affidavit — Tenant Opportunity to Purchase: the first is called the Tenant Opportunity to Purchase Act (TOP), which is a law that applies to all rental properties in the District of Columbia; the second is known as the Tenant Opportunity to Purchase Amendment Act (TOPAZ), which is a more detailed version of TOP that applies to certain types of rental properties, including those that are subsidized or publicly owned.

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District of Columbia Affidavit - Tenant Opportunity to Purchase