Single Family Homes Ownership Amendments

HB 149 prohibits institutional investors from purchasing single-family homes in Utah, directly affecting large real estate firms, corporations, or investment trusts (excluding affordable housing nonprofits, family trusts, or family-owned LLCs). The bill requires any institutional investor that violates this ban to sell the home within one year of purchase. It defines key terms like "institutional investor," "family trust," and "single-family housing" to clarify scope and exemptions. The law takes effect on May 7, 2025, with no funding impact.