Bill

Bill > S3571


NJ S3571

Creates requirements for certain long-term real estate listing contracts.


summary

Introduced
02/09/2023
In Committee
02/09/2023
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

Creates requirements for certain long-term real estate listing contracts.

AI Summary

This bill creates requirements for certain long-term real estate listing contracts, known as "right-to-list home sale agreements." These agreements cannot be longer than 10 years, and must include an option for the owner to terminate the contract early in exchange for a specified amount. The bill also amends the existing law to allow the real estate commission to take disciplinary action against a licensee who enters into a right-to-list home sale agreement that violates these new requirements.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Senate Commerce Hearing (11:00:00 5/15/2023 Committee Room 6, 1st Floor, State House Annex, Trenton, New Jer) (on 05/15/2023)

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