B.__The lessee may terminate the lease earlier than the effective date provided in the notice; and

C.__If the lessee violates the lease during the period between the giving of the notice and the termination date provided in the notice, this section no longer applies and the lessee has only the rights provided in the lease.

For purposes of this subsection, "cause" means violation by a lessee of a term of a lease.

§6050.__Right of first refusal

A lessee of premises on which a structure owned by the lessee exists has the right of first refusal with regard to the leased premises if the lessor intends to sell or to offer to sell the leased premises as a separate parcel.__Each lease subject to this chapter must make provision for a method of determining the sale price of the leased premises upon exercise of the right provided in this section.__The lessor must give the lessee at least 90 days to accept the offer to purchase the lot.

If title to the land on which a lease exists is transferred to a different owner after September 30, 2003, the lessee at the time of transfer has the right of first refusal with regard to subsequent leases of the land.

SUMMARY

This bill allows a lessee the right of first refusal to continue leasing a parcel of land when the land is transferred to a different owner and the new owner intends to continue leasing the land.

This bill also corrects a conflict created by Public Law 2001, chapter 612 and chapter 653, which enacted substantively similar provisions using the same section numbers.