Residents Finally Win Right to buy Manufactured Home Community

naples_estates_mhc__naplesnews__david_albers_photo_creditFollowing a story covering some 18 years legal wrangling by the residents of Naples Estates manufactured home community (MHC) in Florida to buy their community, as MHProNews last reported Oct. 8, 2014, a state appeals court upheld the ruling of a lower court affirming the homeowners right to purchase their community for $14.4 million.

The homeowners objected in 1998 when the owner, Norton Karno, agreed to sell the 484 homesite community to another buyer, claiming they had first right of refusal. There was also a dispute over a 69 percent rent increase and a batch of evictions, according to naplesnews.

The homeowners’ attorney, A. J. Stanton, on May 5 argued for the $11.6 million price, the value assessed in 1997 when the owner first agreed to sell it as a bundle of 41 MHCs for $316 million. However, charges flew back and forth about rent increases and the homeowners’ ability to buy the community, disagreements between residents, among other issues, but all these arguments have been put to rest by the settlement. At one point there were seven lawsuits pending—some between residents and Karno, some between residents.

It seems we’re getting closer to the day everyone’s hoped for,” said resident Brian Pignetti, 41, whose 76-year-old mother also lives there. “Maybe we can put this behind us and it will become a welcoming place again. This is a vindication of all of our efforts over the years.” ##

(Photo credit: naplesnews/David Albers-Naples Estates MHC)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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