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SB 502MONTANASession 2025State Billdead

Did Not Advance

Montana bill bans investment firms from buying homes during the first 45 days on the market

Original title: Revising laws related to transfer of a single-family dwelling

Last action · May 23, 2025: (S) Died in ProcessSponsor: Laura Smith

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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Public stanceCommunity reactions are separate from the official record and reporting.

What This Bill Proposed

s are prohibited from entering into an to purchase any single-family dwelling for 45 days after it is listed for sale. Any contract made in violation of this rule can be voided by the seller at any point before full execution.

Why it matters

Sellers gain the legal right to cancel purchase contracts signed by s during the 45-day restriction window, altering negotiation timelines and buyer eligibility for single-family residential properties.

Background

State legislatures across the country have increasingly considered bills aimed at limiting institutional investor purchases of single-family residential homes. context

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

Investment firms

Investment firms are barred from entering into executory contracts to purchase single-family dwellings during the first 45 days a home is listed for sale.

Directly affected

Sellers of single-family dwellings

Sellers gain the legal right to void any purchase contract entered into with an investment firm in violation of the 45-day limitation before the contract is fully executed.

Key Facts

An investment firm is prohibited from entering into an executory contract to purchase a single-family dwelling before the 45th day after the home is listed for sale.
A contract entered into in violation of the 45-day purchase restriction is voidable by the seller at any time before the contract is fully executed.
An 'investment firm' is legally defined as a corporation or trust engaged in the business of investing the pooled capital of investors in financial securities.
The new restriction is intended to be codified as an integral part of Title 70, chapter 1, part 5.

Show all 5 facts

The act contains a saving clause stating it does not affect rights and duties that matured, penalties incurred, or proceedings begun before the effective date.

Frequently Asked Questions

Who is barred from buying a home during the initial 45-day period?

s, defined as corporations or trusts engaged in investing pooled capital from investors in financial securities, are prohibited from purchasing a single-family dwelling during this timeframe.

What happens if a seller signs a contract with an investment firm during the restricted window?

The contract is voidable by the seller at any time before it is fully executed.

What else do you want to know?

News Coverage

No news coverage found yet. Articles are indexed twice daily.

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Votes, people, money & the original source

Where This Stands

This bill did not become law - Died in committee.

Procedural history

17 actions

May 23, 2025Senate
(S) Died in Process
Mar 12, 2025Senate
(S) Missed Deadline for General Bill Transmittal
Feb 28, 2025SenateCommittee
(S) Tabled in Committee
Feb 27, 2025Senate
(S) Hearing
Feb 26, 2025SenateCommittee
(S) Referred to Committee
Feb 26, 2025Senate
(S) 1st Reading

Show 11 earlier actions

Feb 25, 2025SenateIntroduced
(S) Introduced
Feb 24, 2025House
(LC) Draft Delivered to Requester
Feb 24, 2025House
(LC) Draft Ready for Delivery
Feb 24, 2025House
(LC) Draft in Assembly
Feb 24, 2025House
(LC) Draft in Final Drafter Review
Feb 22, 2025House
(LC) Draft in Input/Proofing
Feb 20, 2025House
(LC) Draft in Edit
Feb 20, 2025House
(LC) Draft in Legal Review
Feb 19, 2025House
(LC) Draft Taken Off Hold
Jan 29, 2025House
(LC) Draft On Hold
Nov 11, 2024House
(LC) Drafter Assigned

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Discoveries

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift95% confidence

Corporate Real Estate Purchase Restriction

The measure establishes a mandatory waiting period specifically prohibiting investment firms from purchasing single-family homes during the initial listing window.

Title 70, chapter 1, part 5

Connected Entities

Title 70, chapter 1, part 5, L. Smith, D. Fern and 6 more

otherTitle 70, chapter 1, part 5“Codification instruction for the new section”Map →

PersonL. Smith“Introduced Senate Bill No. 502”Map →

PersonD. Fern“Introduced Senate Bill No. 502”Map →

PersonJ. Ellis“Introduced Senate Bill No. 502”Map →

PersonK. Bogner“Introduced Senate Bill No. 502”Map →

PersonJ. Morigeau“Introduced Senate Bill No. 502”Map →

PersonM. Dunwell“Introduced Senate Bill No. 502”Map →

PersonS. Novak“Introduced Senate Bill No. 502”Map →

PersonE. Boldman“Introduced Senate Bill No. 502”Map →

Sources

Open source document

bills.legmt.gov

Analysis Score

0–100

Significance20
Lowered because this bill did not pass (its text scored 55)
Controversy65
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz35
Current news / social attention level

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