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Attorney General Nessel Signs Bill as Acting Governor
Michigan Attorney General Dana Nessel signed Senate Bill 602 as acting governor. Nessel was joined by members of the Michigan Association of Realtors, representatives from the Department of Attorney General and her son.
LANSING – Today, Michigan Attorney General Dana Nessel, while serving as acting governor, signed Senate Bill 602 The legislation, sponsored by State Senator Kevin Hertel, amends the Professional Code to clarify the conditions under which a home sale agreement with the right to list between a residential property owner and a real estate broker would be void and unenforceable.
“Senate Bill 602 strengthens protections for property owners by prohibiting unfair practices in real estate transactions,” Nessel said. “Many property owners have faced predatory right-to-sell agreements that lock them into unfavorable terms. This legislation provides much-needed clarity and protects both property owners and real estate professionals. I am honored to have the opportunity to sign this legislation.”
“Selling a home is never an easy thing to do, and when real estate agents engage in predatory practices, it becomes even more difficult,” said Senator Hertel. “Michigan homeowners deserve to be able to make informed decisions about a monumental event in their lives without fear of coercion or deception. This legislation will help us do that by putting a stop to predatory home sales agreements and putting the best interests of homeowners first.”
A home sale agreement with right to sell is an agreement between an owner of residential real estate and a real estate broker that requires the owner to list the residential real estate for sale with the real estate broker at a later date in exchange for consideration. Senate Bill 602 states that such an agreement would be void and unenforceable in several circumstances, including if any of the following apply to the agreement:
- It is not written;
- It is not signed by all persons who have an ownership interest in the residential real estate contemplated by the agreement;
- This is a period of more than 2 years; or
- It does not include the possibility for the owner to terminate the contract as provided for in the new law.
The new law subjects real estate brokers who enter into void and unenforceable agreements to penalties including revocation of their license, administrative fines of up to $10,000, restitution and probation.
The Michigan Constitution allows the attorney general to serve as acting governor and have the power to sign legislation in the event the governor, lieutenant governor, and secretary of state are absent from the state.
Michigan Attorney General Dana Nessel signed Senate Bill 602 as acting governor. Nessel was joined by members of the Michigan Association of Realtors, representatives from the Department of Attorney General and her son.
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