HB5250 - 104th General Assembly (2025-2026)
INSTALLMENT SALES ACT
Last Action
2/10/2026 - House: Referred to Rules Committee
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Installment Sales Contract Act. Changes the definition of "seller" under the Act to mean an individual or legal entity that possesses a legal or beneficial interest in real estate and that enters into an installment sales contract more than 3 times during a continuous 12-month period to sell residential real estate. Provides that the Installment Sales Contract Act applies only to contracts entered into once an individual or legal entity has qualified as a seller. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/05/2026 | House | Filed with the Clerk by Rep. Amy Elik |
| 2/10/2026 | House | First Reading |
| 2/10/2026 | House | Referred to Rules Committee |