Rule 61B-24.005. Right of First Refusal

(1) A developer may offer a unit to a tenant at more than one price provided that all prices are offered to the tenant during the full right of first refusal period.

(2) A developer may not require a purchasing tenant to close on a purchase prior to the expiration of the tenant’s rental agreement or any rental agreement extension period, provided, a developer may establish a higher price for the unit when a tenant elects a later closing. Time of closing shall be determined by developer and tenant negotiation.

(3) A tenant bringing an action for specific performance to enforce a right of first refusal may record a lis pendens prior to the closing on the sale of the unit to a third party.

(4) The right of first refusal exists to provide tenants the opportunity to continue their residence. Any restrictive covenant that would prevent a purchasing tenant from continuing residence in a unit purchased under the right of first refusal is unenforceable against such tenant. Specific Authority 718.501(1)(f), 718.621 FS. Law Implemented 718.612 FS. History–Amended 9-6-81, Formerly 7D-24.05, 7D-24.005.