In this video, Deirdre P Brown talks about the Tenant Opportunity To Purchase Act in The City of Takoma Park, Maryland
This is Deirdre Brown your settlement agent serving the District of Columbia, Maryland and Virginia.
Today we are going to talk about TOPA, but not for properties located in the District of Columbia but for properties located in the City of Takoma Park.
You heard me right the City of Takoma Park Maryland also has TOPA laws that require tenants to be given the opportunity to purchase your property at the same sales price and terms as a third party contract. You will also need to give the City of Takoma Park the opportunity to purchase your property as well. As with any TOPA laws, there are rules and regulations about how the documents should be served as well as time frames before we can go to settlement.
If you have questions about TOPA in the City of Takoma Park please reach out to us at lexiocntitle.com