CT SB00256

Private equity entities must wait at least 75 days after a single-family or two-family residence is listed for public sale before purchasing, acquiring, or offering to purchase the property

The 75-day waiting period restarts if the seller changes the asking price, requiring an additional 75 days at the new price before private equity entities can make offers

Private equity entities must submit a signed written notice to sellers before finalizing any purchase, disclosing their status and certifying compliance with the waiting period requirements

Exemptions apply to residences where a person with ownership interest in the private equity entity will use the property as their principal residence, and to properties constructed, acquired, or operated with federal, state, or municipal funds

Violations subject private equity entities to civil damages and penalties up to $250,000, with enforcement authority granted to the Attorney General to seek injunctive relief, declaratory relief, and civil penalties