|HB 2791 - DIGEST|
|(DIGEST AS ENACTED)|
Provides distressed home consulting transaction requirements.
Provides that a distressed home consultant has a fiduciary relationship with the distressed homeowner.
Requires a distressed home purchaser to enter into a distressed home reconveyance in the form of a written contract.
Provides that, in addition to any other right of rescission, a distressed homeowner has the right to cancel any contract with a distressed home purchaser until midnight of the fifth business day following the day on which the distressed homeowner signs a contract that complies with this act or until 8:00 a.m. on the last day of the period during which the distressed homeowner has a right of redemption, whichever occurs first.
Provides for distressed home purchaser prohibitions.
Provides for unlawful detainer action procedures involving property that was a distressed home.