Requires real estate wholesalers to be licensed and comply with disclosure requirements.

This bill mandates that anyone selling, assigning, or buying an equitable interest in real estate without taking legal title must be licensed as a real estate broker or salesperson. Wholesalers must disclose their equitable interest in the property and comply with cancellation provisions. The transfer of real estate under a wholesale contract cannot occur until the cancellation period has expired. Violations carry fines and civil liability. The act takes effect on January 1, 2027.

Requires real estate wholesalers to be licensed and comply with disclosure requirements.

This bill mandates that anyone selling, assigning, or buying an equitable interest in real estate without taking legal title must be licensed as a real estate broker or salesperson. Wholesalers must disclose their equitable interest in the property and comply with cancellation provisions. The transfer of real estate under a wholesale contract cannot occur until the cancellation period has expired. Violations carry fines and civil liability. The act takes effect on January 1, 2027.