Ex. Summary:

House Bill 20-1201 in Colorado aims to protect mobile home residents by allowing them to purchase the parks where they live, promoting housing stability and affordability. The bill requires park owners to provide a 12-month advance notice of sales or land-use changes and grants residents a 90-day window to make an offer and secure financing. It mandates good-faith negotiations, allows purchase rights to be assigned to local governments or nonprofits, and includes provisions for extending the purchase window. Exemptions apply to specific transactions, and compliance measures ensure transparency. Effective May 1, 2020, this legislation strengthens community ownership and housing security while balancing the interests of landlords and residents.