Consumer protection; unsolicited offers to purchase real estate, unfair service contracts, regulated
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to protect Alabama homeowners from potentially deceptive practices related to real estate investments. It treats unsolicited offers to purchase property and unfair service contracts like securities transactions, giving the Alabama Securities Commission the authority to investigate, regulate, and impose fines for violations. The bill requires clear disclosures in unsolicited offers, allows homeowners to opt out of solicitations, and provides a mechanism for canceling certain contracts. It also includes technical updates to the state’s code to align with current practices.
Bill text
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Document of record
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Sponsors
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1 on record
Primary sponsor
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