An Act To Regulate Shared Appreciation Agreements Relating To Residential Property

Summary

The bill defines shared appreciation agreements (SAAs) and sets strict limits on how they can be used for homes. It protects homeowners by banning liens, preventing restrictions on use or refinancing, capping repayment amounts, and requiring independent legal advice. Violations make the agreement unenforceable and can lead to license revocation.

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

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