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AARP and state prosecutors back bill to outlaw 'unfair service agreements' that cloud property titles
Summary
Senate Bill 164 would void long‑term, non‑title recorded agreements that companies attach to residential property records in exchange for upfront payments. AARP, the attorney general's elder‑abuse prosecutor and realtors supported the bill as a prophylactic against a predatory practice seen in other states.
Sen. Denise Ricciardi told the Commerce Committee Senate Bill 164 would prevent a class of contracts sometimes marketed to homeowners as short‑term cash in exchange for long‑term rights to future real estate brokerage or other personal services. "These quick cash marketing techniques used by out of state companies offer a nominal upfront payment in exchange for a 40 year agreement for future real estate brokerage and other personal home services," Ricciardi said.
AARP representatives Mike Padmore and volunteer state…
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