An Act relative to nonprofit receivership authorization

This bill amends Massachusetts law to allow courts to sell vacant residential properties to nonprofit organizations when a receiver is appointed. The sale must occur at fair market value and is only permitted if the court determines the nonprofit has the expertise to fix all sanitary code violations and rehabilitate the home for affordable sale to a first-time homebuyer earning no more than 120 percent of the median income. The process includes a mandatory waiting period that gives property owners and mortgage lenders a chance to propose fixing the code violations themselves, which would pause the sale.