NOTICE OF SALE OF MOBILE HOME PARKS

HB 167 requires mobile home park owners in New Mexico to give residents written notice (via certified mail and posted on doors) before selling the park to a third party. This notice must include the sale terms and residents' right to purchase the park within 75 days if they can gather 51% support and match the third-party offer's price and conditions. Owners must negotiate in good faith if residents submit a comparable offer, and residents can assign their purchase rights to nonprofits or governments. Violations carry penalties of $100,000 or 20% of the park’s appraised value, whichever is greater. The bill excludes sales from foreclosures, family transfers, or government takings.