HB05209

Establishes requirements for shared appreciation agreements, including valuation, refinancing, and borrower protections.

The bill establishes various requirements for shared appreciation agreements. It mandates that property valuations must be conducted by a certified or licensed appraiser. If a borrower cannot repay the loan without selling the property, the lender must refinance the remaining balance with a fixed interest rate. Borrowers receive credit for property improvements and must be informed about terminating the agreement. The lender cannot alter terms without written consent and must cover attorney's fees if the borrower wins a dispute.