How This Impacts Mobility
The moratorium may affect transferees in that apartments that a transferee thought would be available for temporary housing may not become available if the current tenant refuses to leave at the end of a lease term. Additionally, closings have been delayed as tenants have refused to vacate when an investment property is being sold that the transferee may plan to occupy as his or her primary residence. With the moratorium headed to more court battles, Worldwide ERC® will update members with important relevant updates to this issue. Should any member have questions, please reach out to our Vice President of Member Engagement and Public Policy Rebecca Peters, firstname.lastname@example.org.
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Jay N. Hershman, Esq., SCRP, is an attorney at Baillie & Hershman P.C. and Chair of the Worldwide ERC® Real Estate and Mortgage Forum. Taylor Weitz, litigation attorney with McManamy McLeod Heller, LLC also contributed to this update.