Legislation - SB0664

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.

Committees

Original:: Judicial Proceedings Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0480

Introduced in a prior session as: HB0425 Session: 2023 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2024

History

Legislation History
Chamber Senate Calendar Date 1/29/2024 Legislative Date 1/29/2024 Action First Reading Judicial Proceedings Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations Proceedings
Chamber Senate Calendar Date 1/31/2024 Legislative Date 1/31/2024 Action Hearing 2/16 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/12/2024 Legislative Date 2/12/2024 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/12/2024 Legislative Date 2/12/2024 Action Hearing 2/16 at 10:00 a.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/29/2024	1/29/2024	First Reading Judicial Proceedings
			Text - First - Real Property - Land Installment Contracts - Requirements and Vendor Duties and Limitations
Senate	1/31/2024	1/31/2024	Hearing 2/16 at 1:00 p.m.
Senate	2/12/2024	2/12/2024	Hearing canceled
Senate	2/12/2024	2/12/2024	Hearing 2/16 at 10:00 a.m.

File Code

Subjects

Statutes