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

This bill mandates that any person involved in buying, selling, or assigning an equitable interest in real estate without taking legal title must be licensed as a real estate broker or salesperson. It requires wholesalers to disclose their equitable interest in the property and allows buyers and sellers a three-day period to cancel the contract without penalty. Violations carry fines and civil liability. Exemptions apply to certain property owners and public officers. The act takes effect on January 1, 2027.

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

This bill mandates that any person involved in buying, selling, or assigning an equitable interest in real estate without taking legal title must be licensed as a real estate broker or salesperson. It requires wholesalers to disclose their equitable interest in the property and allows buyers and sellers a three-day period to cancel the contract without penalty. Violations carry fines and civil liability. Exemptions apply to certain property owners and public officers. The act takes effect on January 1, 2027.