BILL · 1991–92 SESSION · LATEST VERSION SHB 2042

HB 2042: Earnest money forfeiture

Establishing conditions for the forfeiture of an earnest money deposit as an exclusive remedy.

Summary

  • A real estate transaction which provides for forfeiture of earnest money to the seller as the seller's sole and exclusive remedy upon default by the purchaser is valid and enforceable regardless whether the seller has any actual damages IF: (1) The earnest money to be forfeited does not exceed 5 percent of the purchase price; and (2) The agreement expressly states that forfeiture of the earnest money is the…

From the Substitute Senate Bill Report (SHB 2042), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 210, Laws of 1991
  1. IntroducedFeb 20, 1991
  2. Out of committee
  3. Passed HouseMar 18, 1991
  4. Passed SenateApr 10, 1991
  5. Governor
  6. LawMay 16, 1991
Prime sponsor
Marlin Appelwick (D-46)
Introduced
February 20, 1991 in the House
Last action
May 16, 1991
Session law
Chapter 210, Laws of 1991
Versions
HB 2042, SHB 2042

Sponsors

Prime sponsor: Marlin Appelwick (D-46)

1 co-sponsor (0 Democrats, 1 Republican)

Votes

House · Final Passage

March 18, 1991
Version voted on: SHB 2042
95 Yea 0 Nay 1 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat57010
Republican38002
How each member voted

Yea (95)

Absent (1)

Excused (2)

Senate · Final Passage

April 10, 1991
Version voted on: SHB 2042
45 Yea 0 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat22002
Republican23002
How each member voted

House · Final Passage

April 23, 1991
Version voted on: SHB 2042
95 Yea 0 Nay 1 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat56011
Republican39001
How each member voted

Yea (95)

Absent (1)

Excused (2)

History

The Legislature's online data doesn't include step-by-step history for sessions before 2001. Its final status is shown above, and the official bill page may have more.

HB 2042 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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