Alabama Real Estate Commission; license required for real estate wholesalers, real estate wholesalers and unsolicited real property solicitors must provide disclosures, Alabama Securities Commission, authorized to enforce, penalties imposed for violations

Summary

The bill would make anyone who buys a home, obtains an equitable interest and then assigns that interest for a fee (a wholesaler) must hold a license from the Alabama Real Estate Commission and provide written disclosures to the seller, any subsequent buyer, and the original seller. It also gives the Alabama Securities Commission concurrent authority to enforce the rules and sets civil and criminal penalties for non‑compliance. The aim is to protect homeowners, especially vulnerable seniors, from predatory wholesale schemes.

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

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