MD HB124

Wholesale buyers must disclose in writing to property owners before entering a contract that they may assign the contract of sale to another person

Wholesale sellers must disclose in writing to assignees that they hold only an equitable interest in the property and may not be able to convey title

Property owners may rescind a contract of sale without penalty before closing if a wholesale buyer failed to provide required disclosures and assigned the contract

Assignees may rescind their purchase agreement without penalty before closing if the wholesale seller failed to provide required disclosures, and are entitled to a refund of any deposit paid

Applies to residential property with four or fewer single-family dwelling units; takes effect October 1, 2025, and applies only to contracts executed on or after that date