MD SB160

Wholesale buyers must disclose in writing to property owners that they may assign the contract of sale to another person before entering into a contract for owner-occupied residential property (4 or fewer single-family units)

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 at any time before closing if the wholesale buyer failed to provide required disclosures and assigns the contract

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

Effective October 1, 2025, applying only to contracts executed on or after that date