Section 01
Ohio SB 155 — Plain-English Breakdown
Senate Bill 155 was signed into law in Ohio and took effect March 2, 2026. It's the most significant change to wholesaling regulation in the state's history — and it affects every deal you do in Ohio going forward.
What Changed
Before SB 155, Ohio had no formal disclosure requirements for wholesalers. You could assign contracts without telling the seller or buyer what you were doing or how much you were making. That's over.
⚖️ The Law
Under SB 155, anyone entering a purchase contract with the intent to assign it must disclose, in writing, at or before contract execution: (1) that they intend to assign the contract, (2) that they are not a licensed real estate agent, and (3) their estimated assignment fee or profit range.
Who It Applies To
- Any person or entity entering a real estate purchase contract with intent to assign
- Applies to residential properties (1–4 units) in Ohio
- Applies whether you're the buyer on a standard purchase contract or using a contract-for-deed/land contract structure
- Does not require a real estate license to wholesale — but the disclosure is mandatory
Exact Timing
Disclosure must happen at or before contract execution — not at closing, not at assignment. If you sign a purchase agreement with a seller and fail to disclose your intent to assign, the contract is potentially voidable by the seller.
What the Disclosure Must Say
📋 Required Disclosure Language
The disclosure must include, in plain language: "I am not a licensed real estate agent. I intend to assign this purchase contract to a third party. My estimated profit from this assignment is approximately $[X] or between $[X] and $[Y]."
The exact profit figure doesn't have to be pinned down — a range is acceptable. But some disclosure of profit intent is required.
The exact profit figure doesn't have to be pinned down — a range is acceptable. But some disclosure of profit intent is required.
Common Mistakes We're Already Seeing
- Using old contract templates without the disclosure addendum
- Adding the disclosure after the seller has already signed
- Disclosing assignment intent but skipping the profit/fee disclosure
- Assuming the disclosure is only needed if the seller asks about it
✓ What We Recommend
Make the disclosure a standard addendum attached to every purchase agreement. Sign it simultaneously with the main contract. The full $5 Compliance Kit includes a ready-to-use Ohio SB 155 disclosure addendum.
Section 02
8-State Disclosure Overview
Ohio isn't alone. Wholesaling regulation has accelerated across the country since 2022. Here's where things stand in the states our deals most commonly touch.
| State | Status | Key Requirement |
|---|---|---|
| Ohio | ⬤ Law Active | Written disclosure at contract: intent to assign + estimated profit range. SB 155 effective March 2026. |
| Texas | ⬤ Required | Must disclose equitable interest in writing on marketing materials. TREC requires "Marketing Contract Assignment" disclosure in ads/flyers. |
| Arizona | ⬤ Required | Must disclose in writing that you hold an equitable interest (not fee simple ownership). Disclosure required on all marketing, ads, and at contract. |
| Florida | ⬤ Required | Written disclosure that you are not a licensed agent and hold a contract (not title). Must disclose assignment intent in the purchase contract. |
| Illinois | ⬤ Required | Equitable interest disclosure required. Contract must state "subject to assignment" on its face. Some counties have additional MLS disclosure requirements. |
| Georgia | ⬤ Required | Written disclosure of equitable interest status on marketing and at contract execution. Assignment fee does not require specific disclosure amount. |
| Indiana | ⬤ Required | Must disclose assignment intent and non-licensed status in writing at contract. Indiana has some of the clearest statutory language — follow the safe harbor closely. |
| Oklahoma | ⬤ Required | Written disclosure required. Must include language that buyer holds equitable interest only, not title. Penalty framework enacted 2023. |
⚠️ Heads Up
Laws change fast. This overview reflects the state of regulations as of March 2026. Several states (including Michigan, Tennessee, North Carolina) had active legislation moving through committee at time of publication. Verify current status before any deal outside these 8 states.
Section 03
Penalty Warnings by State
This is the section people skip — and then regret. The penalties for non-disclosure aren't just fines. They include deal rescission rights, which can unwind a closing you've already done. Here's what's actually at stake:
Ohio (SB 155)
$1,000–$10,000 per violation
Seller has right to rescind contract up to 14 days after discovery. Repeat violations treated as pattern of deceptive practice. Ohio AG enforcement authority.
Texas
Up to $10,000 + license investigation
Failure to disclose equitable interest triggers TREC complaint. Risk of being classified as unlicensed broker — up to $10,000 fine and injunction against future deals.
Arizona
Deal rescission + civil liability
Non-disclosure gives buyer/seller cause of action for fraud or misrepresentation. No statutory fine cap — civil judgment depends on actual damages. Title companies increasingly refusing to close non-disclosed assignments.
Florida
$5,000+ fine + deal voidable
FREC enforcement authority. Non-disclosed assignments subject to rescission. Pattern of violations triggers investigation for unlicensed broker activity (3rd degree felony).
Illinois
$10,000+ per violation
IDFPR enforcement. Chicago added local requirements in 2024 — county-level fines on top of state penalties. Title companies in Cook County require written proof of disclosure before closing.
Georgia / Indiana / Oklahoma
$1,000–$5,000 per deal
All three have civil penalty frameworks with similar ranges. Contract rescission rights for undisclosed assignments. Increasing title company scrutiny regardless of state penalties.
⚠️ The Real Risk Nobody Talks About
Title companies are tightening up. Beyond regulatory fines, the bigger practical risk is closings falling through when title attorneys flag non-disclosed assignments. Several national title companies now have explicit policies requiring written disclosure documentation before they'll insure a wholesale assignment. No disclosure = no close.
Section 04
Before Your Next Deal — Quick Checklist
Print this out or save it. Run through it before every contract execution.
Before Getting the Contract Signed
- ✅ Do you have a state-specific disclosure addendum ready?
- ✅ Does your purchase contract include "subject to assignment" language?
- ✅ Does your disclosure include your non-licensed status?
- ✅ Does your disclosure include your intent to assign?
- ✅ Does your disclosure include estimated assignment fee or range? (Ohio, required)
At Contract Execution
- ✅ Disclosure signed simultaneously with purchase agreement
- ✅ Seller receives a copy of the disclosure at signing
- ✅ Date on disclosure matches (or precedes) purchase contract date
- ✅ Disclosure retained in your deal file
Before Closing
- ✅ Notify title company of assignment intent and provide disclosure documentation
- ✅ Confirm title company will insure the deal as an assignment
- ✅ Assignment agreement executed between you and end buyer
- ✅ End buyer aware deal is an assignment (they should sign assignment agreement)
✓ Pro Tip
Build the disclosure into your standard intake process — not as an afterthought. The best operators we know have it as step 1 in their deal file, not step 7. A 5-minute disclosure conversation at the start of every deal is worth far more than a $10,000 fine or a blown closing.
Need the Full Compliance Kit?
This guide is the overview. The $5 Compliance Kit is what you actually use in your deals — ready-to-sign disclosure templates, deal-by-deal checklists, and a deeper state-by-state breakdown across all 8 states.
Ohio SB 155 Disclosure Addendum
8-State Disclosure Templates
Assignment Contract Checklist
Title Company Talking Points
Buyer Disclosure Worksheet
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