US SB571 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 26 2019 - 25% progression, died in committee
Action: 2019-02-26 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 26 2019 - 25% progression, died in committee
Action: 2019-02-26 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes requirements regarding residential rent-to-own agreements. The bill requires residential property subject to rent-to-own agreements to comply with applicable state and local habitability laws, prohibits eviction of a purchaser of such an agreement except if ordered in a judicial proceeding, requires public documentation of these agreements, and establishes civil penalties for violations. The Consumer Financial Protection Bureau must promulgate regulations under this bill.
Title
Residential Rent to Own Protection Act
Sponsors
| Sen. Jeff Merkley [D-OR] | Sen. Tina Smith [D-MN] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-02-26 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Subjects
Civil actions and liability
Congressional oversight
Consumer credit
Contracts and agency
Finance and financial sector
Government studies and investigations
Housing finance and home ownership
Housing industry and standards
Real estate business
Congressional oversight
Consumer credit
Contracts and agency
Finance and financial sector
Government studies and investigations
Housing finance and home ownership
Housing industry and standards
Real estate business
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/571/all-info |
| Text | https://www.congress.gov/116/bills/s571/BILLS-116s571is.pdf |
