AN ACT RELATING TO BUSINESSES AND PROFESSIONS -- REAL ESTATE BROKERS AND SALESPERSONS

Summary

The bill amends Rhode Island’s real‑estate broker and salesperson statutes and creates a new chapter governing real‑property wholesaling. It makes it illegal to enter a wholesale or assignment contract without a valid real‑estate license or an exemption, and forces wholesalers to disclose their right to assign the contract and give sellers a three‑day cancellation window. The changes aim to increase transparency and protect sellers from undisclosed wholesale practices.

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

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