Bill > LD2182

Introduced Session

This bill is reported out by the Joint Standing Committee on Judiciary to implement a recommendation of the Commission to Recommend Methods for Preventing Deed Fraud in the State established by Resolve 2025, chapter 104. The joint standing committee has not taken a position on the substance of this bill. By reporting this bill out, the joint standing committee is not suggesting and does not intend to suggest that it agrees or disagrees with any aspect of this bill; instead, the joint standing committee is reporting the bill out for the sole purpose of having a bill printed that can be referred to a joint standing committee for an appropriate public hearing and subsequent processing in the normal course. The joint standing committee is taking this action to ensure clarity and transparency in the legislative review of the proposals contained in the bill. The bill provides that, beginning January 1, 2027, a real estate brokerage agency may not enter into a brokerage agreement with a seller or provide any services to a seller of real property unless the real estate broker or an associate real estate broker or a real estate sales agent employed by or on behalf of the real estate brokerage agency has verified the identity of the seller in accordance with the requirements set forth in rules adopted by the Department of Professional and Financial Regulation, Office of Professional and Occupational Regulation, Real Estate Commission. It also provides that, beginning January 1, 2027, a settlement agent may not conduct a settlement involving vacant land or residential real estate in the State unless the settlement agent has verified the identity of the seller in accordance with the requirements set forth in rules adopted by the Superintendent of Consumer Credit Protection within the department. The bill directs the commission and the superintendent to consult prior to the adoption or amendment of the rules concerning the verification of seller identity.

AI Summary

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No sponsors listed

Hearing (13:15:00 3/5/2026 Cross Building, Room 206) (on 03/05/2026)

Official Document