Legislation - SB0160

Title: Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission
Sponsored by: Senator Waldstreicher
Status: Approved by the Governor - Chapter 509
Analysis: Fiscal and Policy Note

Synopsis

Authorizing a seller, buyer, or assignee 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 an assignee 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:: Judicial Proceedings Click to view Recorded Media

Opposite:: Environment and Transportation Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0124

Introduced in a prior session as: HB1408 Session: 2024 Regular Session

Bill File Type: Pre-Filed

Effective Date(s): October 1, 2025

History

Legislation History
Chamber Senate Calendar Date 7/20/2024 Legislative Date 7/20/2024 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/08/2025 Legislative Date 1/08/2025 Action First Reading Judicial Proceedings Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission Proceedings
Chamber Senate Calendar Date 1/09/2025 Legislative Date 1/09/2025 Action Hearing 1/23 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Judicial Proceedings Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/03/2025 Legislative Date 2/03/2025 Action Favorable with Amendments Report by Judicial Proceedings Proceedings
Chamber Senate Calendar Date 2/04/2025 Legislative Date 1/29/2025 Action Favorable with Amendments {303021/1 Adopted Proceedings 18 Click to view Recorded Media
Chamber Senate Calendar Date 2/04/2025 Legislative Date 1/29/2025 Action Second Reading Passed with Amendments Proceedings 18 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 Senate Calendar Date 2/06/2025 Legislative Date 1/31/2025 Action Third Reading Passed (45-0) Proceedings 20 Click to view Recorded Media
Chamber House Calendar Date 2/07/2025 Legislative Date 2/07/2025 Action Referred Environment and Transportation Proceedings 23 Click to view Recorded Media
Chamber House Calendar Date 3/19/2025 Legislative Date 3/19/2025 Action Hearing 3/25 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 3/31/2025 Legislative Date 3/31/2025 Action Favorable with Amendments Report by Environment and Transportation Proceedings
Chamber House Calendar Date 3/31/2025 Legislative Date 3/14/2025 Action Favorable with Amendments {993728/1 Adopted Proceedings 54 Click to view Recorded Media
Chamber House Calendar Date 3/31/2025 Legislative Date 3/14/2025 Action Second Reading Passed with Amendments Proceedings 54 Click to view Recorded Media
Chamber House Calendar Date 4/01/2025 Legislative Date 3/16/2025 Action Third Reading Passed (135-0) Proceedings 56 Click to view Recorded Media
Chamber Senate Calendar Date 4/03/2025 Legislative Date 3/17/2025 Action Senate Concurs House Amendments Proceedings 65 Click to view Recorded Media
Chamber Senate Calendar Date 4/03/2025 Legislative Date 3/17/2025 Action Third Reading Passed (45-0) Proceedings 65 Click to view Recorded Media
Chamber Senate Calendar Date 4/03/2025 Legislative Date 3/17/2025 Action Passed Enrolled Proceedings
Chamber Calendar Date Legislative Date Action Text - Enrolled - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission Proceedings
Chamber Post Passage Calendar Date 5/13/2025 Legislative Date 5/13/2025 Action Approved by the Governor - Chapter 509 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	7/20/2024	7/20/2024	Pre-filed
Senate	1/08/2025	1/08/2025	First Reading Judicial Proceedings
			Text - First - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission
Senate	1/09/2025	1/09/2025	Hearing 1/23 at 1:00 p.m.
			Vote - Senate - Committee - Judicial Proceedings	Click to view Recorded Media
Senate	2/03/2025	2/03/2025	Favorable with Amendments Report by Judicial Proceedings
Senate	2/04/2025	1/29/2025	Favorable with Amendments {303021/1 Adopted	18 Click to view Recorded Media
Senate	2/04/2025	1/29/2025	Second Reading Passed with Amendments	18 Click to view Recorded Media
			Text - Third - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission
Senate	2/06/2025	1/31/2025	Third Reading Passed (45-0)	20 Click to view Recorded Media
House	2/07/2025	2/07/2025	Referred Environment and Transportation	23 Click to view Recorded Media
House	3/19/2025	3/19/2025	Hearing 3/25 at 1:00 p.m.
			Vote - House - Committee - Environment and Transportation	Click to view Recorded Media
House	3/31/2025	3/31/2025	Favorable with Amendments Report by Environment and Transportation
House	3/31/2025	3/14/2025	Favorable with Amendments {993728/1 Adopted	54 Click to view Recorded Media
House	3/31/2025	3/14/2025	Second Reading Passed with Amendments	54 Click to view Recorded Media
House	4/01/2025	3/16/2025	Third Reading Passed (135-0)	56 Click to view Recorded Media
Senate	4/03/2025	3/17/2025	Senate Concurs House Amendments	65 Click to view Recorded Media
Senate	4/03/2025	3/17/2025	Third Reading Passed (45-0)	65 Click to view Recorded Media
Senate	4/03/2025	3/17/2025	Passed Enrolled
			Text - Enrolled - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission
Post Passage	5/13/2025	5/13/2025	Approved by the Governor - Chapter 509
			Text - Chapter - Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission

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