Legislation - HB1408

Title: Residential Property – Assignment of Contracts of Sale – Disclosure Requirements and Rescission
Sponsored by: Delegate Rosenberg
Status: In the Senate - Hearing 3/27 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Authorizing a seller and buyer of certain residential property to rescind a contract of sale without penalty at any time before closing if a certain seller does not provide a certain notice; establishing that a buyer is entitled to a refund of any deposit paid for the purchase of residential real property under certain circumstances; requiring that a contract of sale comply with the requirements of the Act; and applying the Act prospectively.

Committees

Original:: Environment and Transportation Click to view Recorded Media

Opposite:: Judicial Proceedings Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Regular

Effective Date(s): October 1, 2024

History

Legislation History
Chamber House Calendar Date 2/09/2024 Legislative Date 2/09/2024 Action First Reading Environment and Transportation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Residential Property – Assignment of Contracts of Sale – Disclosure Requirements and Rescission Proceedings
Chamber House Calendar Date 2/12/2024 Legislative Date 2/12/2024 Action Hearing 3/05 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Environment and Transportation Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/16/2024 Legislative Date 3/16/2024 Action Favorable with Amendments Report by Environment and Transportation Proceedings
Chamber House Calendar Date 3/16/2024 Legislative Date 3/08/2024 Action Favorable with Amendments {193521/1 Adopted Proceedings 47 Click to view Recorded Media
Chamber House Calendar Date 3/16/2024 Legislative Date 3/08/2024 Action Second Reading Passed with Amendments Proceedings 47 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Residential Property – Assignment of Contracts of Sale – Disclosure Requirements and Rescission Proceedings
Chamber House Calendar Date 3/18/2024 Legislative Date 3/10/2024 Action Third Reading Passed (141-0) Proceedings 49 Click to view Recorded Media
Chamber Senate Calendar Date 3/18/2024 Legislative Date 3/06/2024 Action Referred Judicial Proceedings Proceedings 51 Click to view Recorded Media
Chamber Senate Calendar Date 3/20/2024 Legislative Date 3/20/2024 Action Hearing 3/27 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/09/2024	2/09/2024	First Reading Environment and Transportation
			Text - First - Residential Property – Assignment of Contracts of Sale – Disclosure Requirements and Rescission
House	2/12/2024	2/12/2024	Hearing 3/05 at 1:00 p.m.
			Vote - House - Committee - Environment and Transportation	Click to view Recorded Media
House	3/16/2024	3/16/2024	Favorable with Amendments Report by Environment and Transportation
House	3/16/2024	3/08/2024	Favorable with Amendments {193521/1 Adopted	47 Click to view Recorded Media
House	3/16/2024	3/08/2024	Second Reading Passed with Amendments	47 Click to view Recorded Media
			Text - Third - Residential Property – Assignment of Contracts of Sale – Disclosure Requirements and Rescission
House	3/18/2024	3/10/2024	Third Reading Passed (141-0)	49 Click to view Recorded Media
Senate	3/18/2024	3/06/2024	Referred Judicial Proceedings	51 Click to view Recorded Media
Senate	3/20/2024	3/20/2024	Hearing 3/27 at 1:00 p.m.

File Code

Subjects

Statutes