Bill > SB502

This bill introduces new restrictions on investment firms purchasing single-family dwellings by establishing a 45-day waiting period after a home is listed for sale during which an investment firm cannot enter into a contract to buy the property. Specifically, an "investment firm" is defined as a corporation or trust that pools investor capital to invest in financial securities. If an investment firm attempts to purchase a home before the 45-day period has elapsed, the seller has the right to void the contract at any point before it is fully executed. The bill is intended to be added to existing property transfer laws in Title 70, Chapter 1, Part 5 of Montana state law, and includes a saving clause that ensures the new law does not retroactively affect existing contracts, penalties, or legal proceedings that were already in progress before the law's effective date. The primary goal appears to be giving individual homebuyers a fair chance to purchase homes before large investment firms can make offers, potentially helping to protect the housing market and individual homeownership opportunities.

Justice

https://bills.legmt.gov/#/laws/bill/2/LC1053