An Act to Regulate Shared Appreciation Agreements Relating to Residential Property

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Where it is in the process

Plain-English Summary

This bill defines "shared appreciation agreement" as a written agreement where a consumer receives money for a future interest in their home or an obligation to repay based on the home's increased value. It sets rules for these agreements, including what they cannot do (like create a lien or prevent refinancing) and limits the amount of shared appreciation. The bill also requires consumers to receive independent legal advice, paid for by the party advancing money, before signing such an agreement.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

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