Signed by Governor Gretchen Whitmer

Vote Smart's Synopsis:

Vote to pass a bill that specifies the conditions for a right-to-list home sale agreement to be void and unenforceable.

Highlights:

• Specifies that a right-to-list home sale agreement is void and unenforceable if any of the following apply, including: (Sec. 2512g).

• It is ot in writing;

• It is not signed by all persons that have an ownership interest in the residential real estate;

• It is for a period of more than 2 years; or

• It does not include both an option for the owner to terminate the agreement before its expiration date for an amount of money not exceeding the initial consideration and the period of time the agreement is effective and an explanation of the early termination option.

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 2512g).

Full Bill Text