Legis Daily

Residential Rent to Own Protection Act

USA116th CongressS-571| Senate 
| Updated: 2/26/2019
Jeff Merkley

Jeff Merkley

Democratic Senator

Oregon

Cosponsors (1)
Tina Smith (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Residential Rent to Own Protection Act This bill 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.
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Timeline
Feb 26, 2019
Introduced in Senate
Feb 26, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • February 26, 2019
    Introduced in Senate


  • February 26, 2019
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Civil actions and liabilityCongressional oversightConsumer creditContracts and agencyGovernment studies and investigationsHousing finance and home ownershipHousing industry and standardsReal estate business

Residential Rent to Own Protection Act

USA116th CongressS-571| Senate 
| Updated: 2/26/2019
Residential Rent to Own Protection Act This bill 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 26, 2019
Introduced in Senate
Feb 26, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • February 26, 2019
    Introduced in Senate


  • February 26, 2019
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jeff Merkley

Jeff Merkley

Democratic Senator

Oregon

Cosponsors (1)
Tina Smith (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Civil actions and liabilityCongressional oversightConsumer creditContracts and agencyGovernment studies and investigationsHousing finance and home ownershipHousing industry and standardsReal estate business