COMMERCE AND TRADE Purchase of a Dwelling Place From Debtor: Require Compliance With Fair Business Practices Act

The Act regulates the purchase of property being used as a dwelling place to ensure that the homeowner fully understands that his or her property is being sold, rather than mistakenly believing that the buyer is a lender loaning money to help the homeowner keep the property when he or she is in default on mortgage payments. July 1, 1987