The proposed bill amends Chapter 11-18 of the General Laws, introducing a new section titled "Real estate title fraud - Unsolicited offers to purchase." This section defines key terms related to real estate transactions, including "mortgage lending process," "pattern of real estate title fraud," and "unsolicited real estate purchase offer." It mandates that any person or entity making unsolicited offers to purchase real estate must provide specific notices regarding the offer's potential value compared to fair market and municipal assessed values. Additionally, the bill outlines the requirements for these notices, including their format and the necessity for signatures from all owners or prospective sellers.

Furthermore, the bill establishes penalties for violations, categorizing offenses related to real estate title fraud as misdemeanors or felonies, depending on the severity and pattern of the fraud. It allows victims of such fraud to seek damages and attorney's fees through civil action against individuals who file false or forged documents. The bill also stipulates that municipalities must obtain sufficient documentation to identify individuals filing real estate instruments electronically, with any non-compliant filings deemed void. This act is set to take effect upon passage.