State Supreme Court Rules in Favor of Nonprofit in LIHTC Right of First Refusal

State Supreme Court Rules in Favor of Nonprofit in LIHTC Right of First Refusal



The Massachusetts Supreme Judicial Court recently upheld a lower court’s ruling supporting a nonprofit developer’s right of first refusal to purchase an LIHTC site once a third party makes an enforceable offer to purchase the site. In Homeowner’s Rehab Inc. v. Related Corporate V SLP LP the court ruled that the right of first refusal doesn’t require a bona fide offer to be made and accepted with the consent of the special limited partner.

Full Article Access:

Full access to complete articles from Tax Credit Housing Management Insider is for subscribers only.

Not yet ready to subscribe?

Topics