ND HB1190

Amends North Dakota Century Code Chapter 43-23 to add new definitions and protections for real estate transactions, including "appointed agent," "client," "customer," and "designated broker."

Creates exception to real estate broker licensing for persons who publicly market equitable interests in real estate contracts, clarifying that such activity constitutes brokerage and requires licensing.

Establishes new disclosure requirements for wholesalers of residential real property (fewer than five dwelling units) to inform all parties in writing that they hold an equitable interest, may not convey title, and intend to profit from the transfer.

Grants sellers the right to cancel contracts without penalty and retain earnest money if a wholesaler violates disclosure requirements before close of escrow.

Grants buyers the right to cancel contracts without penalty and receive full refund of earnest money if a wholesaler violates disclosure requirements before close of escrow.