An Act To Protect Persons Who Have Buildings on Leased Land

Sec. 1. 14 MRSA §6050-A  is enacted to read:

§ 6050-A.  Land occupied by lessee at time of transfer

Sec. 2. Retroactivity. This Act applies retroactively to January 1, 2010.

summary

This bill provides that a person who purchases land on which there is a building owned by another person who leases the land may not change the prior uses of the land without the consent of the lessee. It provides that a person who purchases land that is subject to a lease may not increase existing rent by more than 10% a year. It also provides that a person who violates one of these requirements is liable to the lessee for the fair market value of the lessee's property. The bill provides that the provision is retroactive to January 1, 2010.