- Title
- Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations
- Sponsored by
- Senator Charles
- Status
- In the Senate - Hearing 2/16 at 10:00 a.m.
- Analysis
- Fiscal and Policy Note
Synopsis
Requiring the vendor to provide a purchaser under a land installment contract with the results of a title search for the property at or before the time the purchaser signs the contract; requiring the inclusion of certain notice, terms, and recitals in a land installment contract formed in the State; altering, from 40% to 20%, the percentage of the original cash price of a land installment contract that the purchaser must pay before the purchaser may demand a grant of the deed to the property to the purchaser; etc.
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Last Updated: 4/15/2024 3:27 PM