Second Read and Referred S Emerging Issues and Professional Registration Committee
Summary
The bill would require all residential contracts for deed—where the seller keeps the deed until the buyer finishes payments—to be in writing, signed, and to include specific disclosures about price, interest, fees, and default terms. It applies to contracts longer than three years (long term) and three years or less (short term), but not to deals where the deed is delivered within 180 days or where the seller is a bank. The law also obligates sellers to own clear title and to disclose any existing liens with detailed information.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Topics
Track this bill
Get real-time alerts when SB 1594 changes status, plus AI-powered summaries and stage predictions.
Sign up free