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MarylandHB 01242025 Regular SessionHouseWALLET

Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission

Sponsored By: Samuel I. Rosenberg (Democratic)

Signed by Governor

Real PropertyAgents and BrokersContracts -see also- ProcurementDisclosureReal Estate -see also- Agents and BrokersResidential Property -see also- Apartments; CondominiumsTitles -see also- DeedsWholesale Distribution

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Homebuyers gain assignment notices and deposit refunds

For Maryland sale contracts signed on or after October 1, 2025, buyers taking over a wholesale seller’s contract gain protections. Before entering the agreement, the seller must disclose in writing that they hold a contract-based interest, not legal title. The notice must also warn that the seller may not be able to transfer title. Without that notice, the buyer can cancel without penalty before closing and get back any deposit paid for the assignment. This covers qualifying owner-occupied property with four or fewer single-family dwelling units, but excludes sales under Maryland Rule 14-215.

Homeowners gain notice and sale cancellation rights

For Maryland sale contracts signed on or after October 1, 2025, homeowners gain protections when selling to wholesale buyers. These buyers plan to transfer the sale contract to someone else for a fee. Before signing, they must tell the owner in writing that they may transfer the contract. If they skip that notice and transfer the contract, the owner can cancel without penalty before closing, including with the buyer’s assignee or successor. This covers owner-occupied property with four or fewer single-family dwelling units, but excludes sales under Maryland Rule 14-215.

Sponsors & Cosponsors

Sponsor

  • Samuel I. Rosenberg

    Democratic • House

Cosponsors

  • Regina T. Boyce

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 183 • No: 0

Senate vote • 4/2/2025

Third Reading Passed

Yes: 46 • No: 0 • Other: 1

House vote • 2/13/2025

Third Reading Passed

Yes: 137 • No: 0

Actions Timeline

  1. Approved by the Governor - Chapter 508

    5/13/2025

  2. Returned Passed

    4/2/2025House

  3. Third Reading Passed (46-0)

    4/2/2025Senate

  4. Second Reading Passed

    3/26/2025Senate

  5. Favorable Adopted

    3/26/2025Senate

  6. Favorable Report by Judicial Proceedings

    3/26/2025Senate

  7. Referred Judicial Proceedings

    2/14/2025Senate

  8. Third Reading Passed (137-0)

    2/13/2025House

  9. Second Reading Passed with Amendments

    2/11/2025House

  10. Favorable with Amendments {943729/1 Adopted

    2/11/2025House

  11. Favorable with Amendments Report by Environment and Transportation

    2/10/2025House

  12. Hearing 1/28 at 2:00 p.m.

    1/13/2025House

  13. Hearing canceled

    1/13/2025House

  14. Hearing 1/28 at 1:00 p.m.

    1/8/2025House

  15. First Reading Environment and Transportation

    1/8/2025House

  16. Pre-filed

    7/20/2024House

Bill Text

  • Enacted

    5/13/2025

    PDF

  • Third Reading

    2/11/2025

    PDF

  • First Reading

    1/8/2025

    PDF

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