Delaware SB201 amends real estate laws to protect consumers in wholesale transactions, increasing compensation limits and clarifying wholesaler.
Delaware SB201 amends Title 24 of the Delaware Code to enhance consumer protections in real estate wholesale transactions. It increases the compensation limit from $25,000 to $50,000 for aggrieved parties in real estate transactions. The bill also defines "wholesaling" as marketing and advertising for the assignment of an equitable interest in a real estate sales agreement, specifically for 1-to-4 family residential properties or single lots zoned for such residences.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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