You need to get legal help with this matter from an attorney familiar wth condo conversions in your area.  What I believe you are referring to is a "tenant intent to purchase" form.  Tenants do not have to sign them if they do not want.  Depending on where you are all non-purchasing renters get one-year rent-controlled leases, and all disabled and senior (over 62) renters get lifetime rent-controlled leases. At the conclusion of a lease period, renters may be evicted in connection with the sale of a unit. Also, be aware that eviction rates of a building can stand in the way of conversion. That means that the building would not qualify. Seek legal help. There are too many laws to be aware of and too many procedure to follow on your own.