Workshop today on recent changes to DC’s TOPA law

Workshop today on recent changes to DC’s TOPA law

Did you know TOPA was amended as of July 3?

The DC Department of Housing and Community Development will hold a workshop to provide an overview of the newly enacted Single-Family Home Exemption Amendment Act of 2018 (Bill 22-0315, Act 22-339). today from 1 to 3 pm.

For those who cannot attend in person, the DHCD Facebook page will also broadcast the workshop live.

The workshop will cover a variety of topics including:

  • Types of single family properties that are exempt
  • Criteria that an elderly or disabled tenant must meet to still have a limited opportunity to purchase
  • Notice and documentation requirements

If you wish to attend today's workshop in person, you must register. The workshop is free and will take place from 1 to 3 p.m. at One Judiciary Square, located at 441 4th Street NW, Old Council Chamber Room, Washington, DC 20002.

Upcoming workshop on recent changes to DC’s TOPA law

Upcoming workshop on recent changes to DC’s TOPA law

Did you know TOPA was amended as of July 3?

The DC Department of Housing and Community Development will hold a workshop in a couple weeks to provide an overview of the newly enacted Single-Family Home Exemption Amendment Act of 2018 (Bill 22-0315, Act 22-339).

The workshop will take place Wednesday, July 25 from 1 to 3 p.m. at One Judiciary Square, located at 441 4th Street NW, Old Council Chamber Room, Washington, DC 20002. The workshop is free but you must register to attend.

For those who cannot attend in person, the DHCD Facebook page will also broadcast the workshop live.

The workshop will cover a variety of topics including:

  • Types of single family properties that are exempt
  • Criteria that an elderly or disabled tenant must meet to still have a limited opportunity to purchase
  • Notice and documentation requirements

Assignment of TOPA rights (Tenant's Opportunity to Purchase Act): Q&A

Assignment of TOPA rights (Tenant's Opportunity to Purchase Act): Q&A

Q: Can TOPA rights be assigned without a contract?

A: With our without a contract, TOPA rights can be assigned.

Q: How much (consideration) does the landlord/owner need to pay the Tenant to make the assignment valid?

A: Most title insurance underwriters agree that there must be at least $300.00 of consideration which can be in the form of rent abatement/waiver, moving expenses, or cash payment.

Q: What forms must be provided to the tenant prior to the existence of a contract?

A: The landlord/owner must provide TOPA Form B by certified mail before tenant signs the agreement to assign. Because the rights of first refusal will be assigned concurrently with the rights to purchase, it is not necessary to provide Form C.

Q: What forms must be provided to the tenant with the existence of a contract?

A: The landlord/owner must provide TOPA Form A by certified mail before tenant signs the agreement to assign.

Q: Once the Assignment is signed by both landlord/owner and tenant, is there a waiting period before settlement can occur?

A: No. However, do note that either Form A or Form B must be sent by certified mail in order to satisfy the legal requirements such that the rights become legally assignable.

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