AN ACT ESTABLISHING VARIOUS REQUIREMENTS REGARDING SHARED APPRECIATION AGREEMENTS.

Summary

The bill creates strict standards for shared appreciation agreements, banning many borrower‑unfavorable provisions and requiring clear, timely disclosures. It applies to borrowers who use these agreements and the lenders who offer them, aiming to protect homeowners from hidden costs and unfair terms. The law also mandates counseling and appraisal standards before a deal can be finalized.

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

Topics

Share