RI
Rhode Island Legislative Bills
2 legislative bills tracked for real estate wholesalers & investors
High Risk
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S3136Passed High Risk
Jun 23, 2026 View Full Legislative Bill
Requires any person in the business of selling, assigning or buying an equitable interest in real estate without taking legal title to such property, to be licensed as a real estate broker or salesperson and to comply with the disclosure requirements.
Summary
- This bill requires individuals who sell, assign, or buy an equitable interest in real estate without taking legal title to obtain a real estate broker or salesperson license
- It also mandates compliance with specific disclosure requirements related to these transactions
What This Means for Wholesalers
- For real estate wholesalers in Rhode Island, this means they must now obtain a real estate license to operate legally
- Additionally, they will need to adhere to disclosure requirements, which could increase their operational complexity and costs
license required
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H7840Passed High Risk
Jun 23, 2026 View Full Legislative Bill
Requires any person in the business of selling, assigning or buying an equitable interest in real estate without taking legal title to such property, to be licensed as a real estate broker or salesperson and to comply with the disclosure requirements.
Summary
- This bill mandates that anyone involved in selling, assigning, or buying an equitable interest in real estate without taking legal title must obtain a real estate broker or salesperson license and adhere to specific disclosure requirements
- It aims to regulate the practice of real estate transactions that do not involve direct ownership of the property
What This Means for Wholesalers
- For real estate wholesalers, this means they will now need to obtain a real estate license to operate legally in Rhode Island
- Additionally, they will be required to comply with disclosure requirements, which may increase the complexity and cost of their transactions
license required
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