Feb 13

Tenant Opportunity to Purchase Act: TOPA “Sale” Definition re-analyzed


The Washington City Paper has explored a new Tenant Opportunity to Purchase Act case that is again exploring the definition of a TOPA sale. If you follow TOPA case law, you know that throughout the years the definition of “sale” has been hotly litigated and the statute defining “sale” has been amended. A new case argues that when shares of an entity owner are transferred, and the entity owns a portfolio of properties, it does not constitute a sale for purposes of TOPA. The City Paper’s analysis may overstate the application of this effort, but it nonetheless shows that there remain new creative ways to avoid arduous compliance with TOPA. The article can be found here.