California AB1850 requires a valid real estate license for wholesaling real property contracts.

California AB1850 amends the Business and Professions Code to define wholesaling as entering into a contract or option to purchase real property with the intent to sell, assign, or market it to another person for compensation or profit. The bill mandates that individuals must hold a valid real estate license to engage in wholesaling activities. Wholesalers must also clearly disclose in writing that they do not hold legal title to the property. Failure to comply with these requirements may result in disciplinary action.

California AB1850 requires a valid real estate license for wholesaling real property contracts.

California AB1850 amends the Business and Professions Code to define wholesaling as entering into a contract or option to purchase real property with the intent to sell, assign, or market it to another person for compensation or profit. The bill mandates that individuals must hold a valid real estate license to engage in wholesaling activities. Wholesalers must also clearly disclose in writing that they do not hold legal title to the property. Failure to comply with these requirements may result in disciplinary action.