Alabama Real Estate Commission; equitable interest transfers, disclosure and licensing requirements, penalties for violations

Summary

The bill makes people who only have an equitable interest in residential property subject to the same licensing rules as brokers when they sell or assign that interest for a fee. It also requires specific disclosures and a fixed closing date in those transactions, and gives the Alabama Real Estate Commission authority to fine or discipline violators. The goal is to protect buyers by ensuring transparency and professional oversight.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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