Bill > HB3104

This bill creates the Predatory Real Estate Wholesaler Prohibition Act, which prohibits any person, partnership, trust, association, or corporation from publicly marketing for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective purchaser. This is an amendment to the existing Oklahoma Real Estate License Code, which generally allows owners, lessors, or lessees of real estate to sell, rent, lease, exchange, or offer to do so without requiring a real estate license, with some exceptions. The purpose of this bill is to prevent predatory real estate wholesaling practices where entities acquire equitable interests in property contracts without the property owner's full knowledge or consent.

Business and Industry

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3104&Session=2000