Kentucky passes costs to end ‘hazardous’ listing agreements
Kentucky is on the edge of ending unique property listing agreements. The state's General Assembly passed a costs to secure property buyers from predatory agreements called non-title taped contracts for individual services (NTRAPS) or right-to-list arrangements.
The practice of right-to-list arrangements victims upon house owners by providing little swelling amounts of money in exchange for decades-long agreements for the unique rights to offer the residential or commercial property.For a house owner in requirement of additional money, someplace in between $300 to $5,000, a business will provide the money they require without a loan. There is a catch: They have to sign an arrangement enabling the company the right to note their home if they pick to offer in the future-- obliging them fo...