Revising laws related to transfer of a single-family dwelling

This bill restricts investment firms from purchasing single-family homes that have been listed for sale for less than 45 days. The law defines an investment firm as a corporation or trust that pools investor capital to buy financial securities, and it applies this 45-day waiting period specifically to these entities. If an investment firm attempts to buy a home before the 45-day period ends, the seller can cancel the contract at any time before it is fully completed. The bill does not affect sales by other types of buyers or transactions that occurred before the law takes effect.