Legislation

Title: Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations
Sponsored by: Delegates Taylor, Charles, Grossman, Harris, Henson, Holmes, Ivey, Taveras, and Toles
Status: In the Senate - Hearing 3/23 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

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.

Committees

Original:: Environment and Transportation Click to view Recorded Media

Opposite:: Judicial Proceedings Click to view Recorded Media

Committee Testimony

Witness List

Details

Introduced in a prior session as: HB1108 Session: 2022 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2023

History

Legislation History
Chamber House Calendar Date 1/30/2023 Legislative Date 1/30/2023 Action First Reading Environment and Transportation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations Proceedings
Chamber House Calendar Date 2/01/2023 Legislative Date 2/01/2023 Action Hearing 2/21 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 3/06/2023 Legislative Date 3/06/2023 Action Favorable with Amendments Report by Environment and Transportation Proceedings
Chamber House Calendar Date 3/07/2023 Legislative Date 3/01/2023 Action Favorable with Amendments {113127/1 Adopted Proceedings 38 Click to view Recorded Media
Chamber House Calendar Date 3/07/2023 Legislative Date 3/01/2023 Action Second Reading Passed with Amendments Proceedings 38 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations Proceedings
Chamber House Calendar Date 3/09/2023 Legislative Date 3/03/2023 Action Third Reading Passed (137-0) Proceedings 40 Click to view Recorded Media
Chamber Senate Calendar Date 3/10/2023 Legislative Date 3/04/2023 Action Referred Judicial Proceedings Proceedings 41 Click to view Recorded Media
Chamber Senate Calendar Date 3/16/2023 Legislative Date 3/16/2023 Action Hearing 3/23 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/30/2023	1/30/2023	First Reading Environment and Transportation
			Text - First - Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations
House	2/01/2023	2/01/2023	Hearing 2/21 at 1:00 p.m.
			Vote - House - Committee - Environment and Transportation	Click to view Recorded Media
House	3/06/2023	3/06/2023	Favorable with Amendments Report by Environment and Transportation
House	3/07/2023	3/01/2023	Favorable with Amendments {113127/1 Adopted	38 Click to view Recorded Media
House	3/07/2023	3/01/2023	Second Reading Passed with Amendments	38 Click to view Recorded Media
			Text - Third - Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations
House	3/09/2023	3/03/2023	Third Reading Passed (137-0)	40 Click to view Recorded Media
Senate	3/10/2023	3/04/2023	Referred Judicial Proceedings	41 Click to view Recorded Media
Senate	3/16/2023	3/16/2023	Hearing 3/23 at 1:00 p.m.

File Code

Subjects

Statutes