The courts of this State have no jurisdiction over this section, and there is no right of appeal.

§6050-F.__Minimum lot size

The minimum lot size for leased premises must be determined as follows.__The description of the current lease of the leased premises must be examined.__If the description describes leased premises that are less than 20,000 square feet and the current lessee held the lease prior to the effective date of Title 12, section 4807-A, then the lessee is exempt from the requirements of section 4807-A.__If there is no description, the boundaries are those occupied by the lessee.

Sec. 7. Application. Except as otherwise provided, this Act applies to agreements entered into or renewed on or after October 1, 2005.

SUMMARY

This bill changes the laws governing buildings on leased land in the following ways.

1. It provides that these laws apply to land in an organized area as well as to land in the unorganized territory.

2. It provides that a lessor may not terminate a lease without just cause and that a lessor shall reimburse a lessee for the fair market value of all improvements on the leased real estate if the lessor terminates the lease.

3. It provides a lessee with a right of first refusal for the fair market value of the leased land with regard to the leased premises if the lessor intends to sell any real estate in this State. If a lessee does not elect to purchase the leased premises, the lease continues with the same terms, except for annual rental fees, for no less than 50 years. The annual rental fee is capped at 5% of the fair market value of the leased premises, excluding improvements.