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Bill > HB1121


MD HB1121

MD HB1121
Real Property - Residential Contracts of Sale - Buyer Privacy


summary

Introduced
02/10/2023
In Committee
02/10/2023
Crossed Over
Passed
Dead
04/10/2023

Introduced Session

2023 Regular Session

Bill Summary

AN ACT concerning Real Property - Residential Contracts of Sale - Buyer Privacy FOR the purpose of prohibiting a contract of sale for single-family residential real property from containing the name of an individual buyer prior to acceptance of the contract of sale by the seller; and generally relating to residential contracts of sale. BY adding to Article - Real Property Section 10-713 Annotated Code of Maryland (2015 Replacement Volume and 2022 Supplement) Preamble

AI Summary

This bill prohibits a contract of sale for single-family residential real property from containing the name of an individual buyer prior to acceptance of the contract by the seller, with the intent of eliminating bias in housing decisions. The bill applies only to contracts executed with the services of a real estate broker and does not apply to purchases by corporate or business entities or fiduciaries. Before or during the preparation of the contract, the individual buyer must execute an agreement with the buyer's real estate broker that identifies the buyer as an individual, states the buyer has not misrepresented their status or been convicted of related fraud, and intends to occupy the property as their principal residence. The bill is to be construed to apply only prospectively, taking effect on October 1, 2023.

Committee Categories

Transportation and Infrastructure

Sponsors (1)

Last Action

House Environment and Transportation Hearing (13:00:00 3/7/2023 ) (on 03/07/2023)

bill text


bill summary

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