Property: land sales; purchase of certain residential homes by investors; regulate. Creates new act.

Summary

The Residential Homeownership Accessibility Act bars corporations, hedge funds, private‑equity firms and other out‑of‑state investors from purchasing additional single‑family houses once they own ten in Michigan. It also forces these investors to register with the state housing authority, with heavy fines for violations. The goal is to keep homes affordable for residents.

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

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