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2015 Regular Session



Real Property - Contract for Sale of New Home

Sponsored by:

Senator Muse


Veto sustained (0-46)

Synopsis:Requiring a contract for the initial sale of a new home to include a specified provision under specified circumstances; authorizing a seller or purchaser to declare a specified contract void and of no effect under specified circumstances; requiring a seller to return to a purchaser any deposit paid under a specified contract under specified circumstances; and requiring a deposit held by a licensed real estate broker to be distributed in accordance with specified provisions of law.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Muse and Ramirez
Additional Facts:Cross-filed with: HB1183
Bill File Type: Regular
Effective Date(s): October 1, 2015
Judicial Proceedings  View Committee HearingEnvironment and Transportation  View Committee Hearing
Broad Subject(s):Real Property
Narrow Subject(s):Agents and Brokers
Contracts -see also- Land Installment Contracts; Procurement
Loans -see also- Mortgages
Real Estate -see also- Agents and Brokers
Security Deposits
Statutes:Article - Real Property

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October 24, 2017 4:49 P.M.