§ 1387.

RIGHT OF TENANTS TO CONTRACT FOR THE PURCHASE OF UNIT

a.

The present tenant or tenants at the date of filing of the application for a Tentative Map of any unit to be converted or, in the event of a voluntary vacation, or eviction for cause, the tenant or tenants in occupancy at the date of issuance of the State Department of Real Estate’s Final Subdivision Public Report shall be given a nontransferable contract right to purchase the unit occupied at a price no greater than the price offered to the general public.

b.

The right of contract for purchase of the unit shall extend for 60 days from the date the unit is initially offered to the tenant in writing by the subdivider. The period of acceptance of the offer may be extended if such an agreement is executed in writing by the subdivider and tenant, provided that the tenant may cancel the purchase agreement if the unit is not conveyed to that tenant within six months of the agreement to purchase.

c.

The offer of sale may not be extended by the subdivider to the tenant until the recordation of the Final Map or Parcel Map, and until the issuance of the State Department of Real Estate’s Final Subdivision Public Report.

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