SB586: Relating to termination of tenancy due to sale of dwelling unit; prescribing an effective date.

Legislative Summary

This Act allows a landlord to pay a tenant to reduce the time a landlord must give a tenant to move when selling the rented home to a buyer who will move in. (Flesch Readability Score: 65.6). [Digest: This Act reduces the time a landlord must give a tenant to move when selling the rented home to a buyer who will move in. (Flesch Readability Score: 76.5).] [Reduces] Allows a landlord to pay a tenant one month's rent to reduce from 90 to [45] 60 days the termination notice period that a landlord must give the tenant when selling the dwelling unit to buyers who intend to reside in the unit. Eliminates the requirement that the unit be sold separately from any other dwelling unit. Takes effect on the 91st day following adjournment sine die.