What does TOPA require a landlord to offer before selling a tenant-occupied rental accommodation?

TOPA, or the Tenant Opportunity to Purchase Act, mandates that landlords must provide tenants the opportunity to purchase their residence before the property is sold. This law is intended to protect tenants from displacement and empower them by giving them a chance to buy the property they currently occupy. The act requires landlords to inform tenants of their intent to sell and provide them with an offer to purchase, thereby allowing them to potentially become homeowners instead of being forced to move when the property is sold.

The focus of the legislation is on promoting tenant rights and providing them with a fair chance to invest in their living situation, which reflects the growing emphasis on affordable housing and tenant stability in real estate practices.