A 4278
Establishes licensure requirement for wholesale transactions in real estate and certain rights of consumers in contracts for real property sold in wholesale transaction.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes a licensing requirement for individuals involved in wholesale real estate transactions in New Jersey. It defines ‘wholesale transaction’ as selling an interest in residential property with the intent to transfer it for a fee, without taking ownership. The bill also grants consumers specific rights, including the ability to cancel sales agreements within 30 days of execution or conveyance, and mandates that sales contracts include detailed disclosures about the transaction and consumer rights.
Sponsors
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Primary sponsors
Cody Miller
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