Establishes the "Protect Elder Realty for Retirement Years Act"

HB 1472, titled the "Protect Elder Realty for Retirement Years Act," creates a mandatory "cool-down period" for the sale of personal residences when one of the parties is seventy-five years of age or older. This provision requires that contracts include at least seventy-two consecutive hours after signing during which either the buyer or seller can cancel the agreement without facing any financial or legal penalties. The bill also prohibits coercion or undue influence against elderly parties regarding this cancellation right and ensures that any attempt to waive these protections is automatically invalid. If a contract is cancelled, the seller must return any funds paid by the buyer within ten days, with legal remedies available for violations.