Bill Text: TX SB1436 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to a required notice concerning an easement or right-of-way in certain Texas Real Estate Commission contract forms.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-14 - Referred to Business & Commerce [SB1436 Detail]
Download: Texas-2019-SB1436-Introduced.html
86R13886 TSR-D | ||
By: Taylor | S.B. No. 1436 |
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relating to a required notice concerning an easement or | ||
right-of-way in certain Texas Real Estate Commission contract | ||
forms. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 1101.155, Occupations Code, is amended | ||
by adding Subsection (d) to read as follows: | ||
(d) A contract form adopted by the commission for use in the | ||
sale of property must include a notice informing the buyer that if | ||
the property is subject to, or adjacent to, an easement or | ||
right-of-way, the use of the easement or right-of-way, including | ||
the construction or maintenance of an improvement, is governed by | ||
the documents under which the easement or right-of-way was created, | ||
and the use of that easement or right-of-way may affect the value of | ||
the buyer's property. | ||
SECTION 2. Not later than December 1, 2019, the Texas Real | ||
Estate Commission shall update contract forms to comply with | ||
Section 1101.155(d), Occupations Code, as added by this Act. | ||
SECTION 3. This Act takes effect September 1, 2019. |