Residential Real Property - Tenants' Right of First Refusal

HB 872 gives residential renters in Maryland the right to purchase their rental property before the owner sells to a third party under specific conditions. If an owner receives a third-party offer at least 10% lower than a previous tenant offer, or gets a third-party offer without first offering to tenants, the owner must notify tenants in writing within 30 days. Tenants then have 30 days to submit a written offer at the same price as the third-party offer, and the owner must accept it if the price matches. The bill clarifies that liability for failing to follow these steps rests solely with the property owner, not the property itself, and takes effect October 1, 2025.