AN ACT CONCERNING THE PURCHASE OF RESIDENTIAL PROPERTY BY PRIVATE EQUITY ENTITIES.

Summary

The law bars private‑equity companies from purchasing single‑family or two‑family residences unless the property has been listed for the public for at least 75 days. If the seller changes the asking price, the waiting period starts over, and the buyer must provide a written notice of its status and compliance. Violations can result in civil penalties up to $250,000 and a civil action by the Attorney General.

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