Bill > SB973

This bill introduces new provisions related to real estate transactions and public property use. It prohibits political subdivisions, such as municipalities and school districts, from enacting ordinances or restrictions that prevent property they sell, lease, or transfer from being used by charter public schools for educational purposes, and any existing restrictions that do so are declared void. The bill also establishes a "right of first refusal" for public entities when a school district offers an unused school building or facility for sale or lease to a non-public entity, requiring the school district to provide public notice and allowing public entities a 60-day window to express interest, with the school district making the final selection if multiple public entities are interested. Furthermore, it mandates that a "wholesaler," defined as someone who contracts to buy residential property and then assigns that contract to another party for a fee, must provide a detailed written disclosure statement to the property owner at least 14 days before signing a contract, informing them of the wholesaler's role and advising them to seek legal counsel; failure to do so makes the contract voidable by the owner and constitutes an unlawful practice. Finally, the bill enacts the "Missouri Residential Sale Leaseback Protection Act," requiring buyers in a sale leaseback transaction (where someone sells their home and then leases it back) to provide the seller with a specific disclosure at least 14 days before signing, warning them of the implications of selling their home and encouraging them to seek advice from various professionals, and prohibits the transfer of title for at least 30 days after the agreement is signed.

Business and Industry, Government Affairs, Justice

https://www.senate.mo.gov/BillTracking/Bills/BillInformation?year=2026&BillID=321