An Act relative to the sale of chapter 40B properties purchased prior to the year 2010

This bill allows homeowners who purchased Chapter 40B affordable housing properties before 2010 to sell them at fair market value without maintaining the 40B status. Upon sale, the property loses its 40B designation, becomes regular market housing, and the selling town must add an equivalent number of new affordable units to compensate for the lost 40B housing. Homeowners must also pay back any reduced HOA fees they received during their ownership. The Executive Office of Housing and Livable Communities will implement these changes.