H5522

Homeowner Contract Transparency and Fair Dispute Resolution Act requires advance disclosure of home purchase documents to buyers before closing.

The Homeowner Contract Transparency and Fair Dispute Resolution Act mandates that sellers provide buyers with all home purchase documents containing dispute resolution provisions and legal waivers no later than the execution of the purchase agreement or ten days before closing. These documents must be in their complete and final form, clearly labeled, and signed by the buyer. Any noncompliant provisions are void and unenforceable. The act also imposes an affirmative duty on attorneys conducting closings to ensure seller compliance, subjecting them to disciplinary action for noncompliance.