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Updated almost 8 years ago on . Most recent reply

Account Closed
  • Real Estate Investor
  • Occoquan, VA
1
Votes |
11
Posts

Right of first refusal, MD

Account Closed
  • Real Estate Investor
  • Occoquan, VA
Posted

Hi friends, 

I just bought a four units multifamily house in Gaithersburg, MD. It's the first time I'm investing  in Maryland. My plan was to live in one unit and rent the other three. While doing the paper work at the county (Montgomery) to transfer the rental license from the previous owner to my name, I learned about "The right of first refusal law". Which states that the county has the right to buy any 4 units or more multifamily dwelling first, before it is offer to a third party. It wasn't file by the previous owner, and now I was deny the rental license and my legitimacy as owner. The title company where I closed, claims not responsibility. Has anyone experienced this type of set back? any advice, suggestion or referral to a experienced attorney would be more than welcome. Thanks a lot.              

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