On Mar. 9, WV LEG bill to ban unfair real estate service agreements.
WV LEG passed bill HB 5326 on prohibiting of unfair real estate service agreements.
Adds new article sections relating to subject at WV LEG 30-38B-1 to WV LEG 38B-8.
Provisions
Includes relevant definitions including real estate service, real estate service agreement, unfair real estate service agreement, and residential real estate.
Makes unfair real estate service agreement void and unenforceable as a matter of law.
Specifies entering into an unfair real estate service agreement with a consumer is a deceptive act under WV LEG 46A-6-104, such agreement may not be recorded in WV.
If unfair agreement is recorded, consumer may seek to have it declared unenforceable and obtain the costs and attorney's fee incurred in obtaining such court order.
Any consumer with an interest in real property subject to unfair service agreement may file suit against provider and court may award damage, and equitable remedies.
Legislative History
On Jan. 29, 2024, bill introduced in House; on Feb. 14, 2024, bill passed House.
On Feb. 15, 2024, bill introduced in Senate; on Mar. 5, 2024, bill passed Senate.
Effectiveness
Upon approval by governor or veto override, HB 5326 effective 90 days from passage.
Mar. 26, 2024 WV LEG Governor Approval
On Mar. 26, 2024, WV LEG governor approved bill HB 5326, effective on Jun. 6, 2024.
