Relating to a seller's disclosure of natural or liquid propane gas on residential real property.
Impact
The implications of HB3389 on state law are significant as it aligns seller disclosure requirements with public safety and environmental considerations. By requiring an explicit declaration regarding the presence of liquid propane gas, the bill seeks to inform potential home buyers about potential risks associated with gas systems. This amendment could potentially lead to safer residential environments and reduce hazards related to improper disclosure of such information and its consequences.
Summary
House Bill 3389 introduces amendments to the Texas Property Code focusing on seller disclosures related to the presence of natural or liquid propane gas in residential properties. The bill mandates that sellers of residential real estate provide new standardized disclosure notices regarding the presence of such gas, outlining both their knowledge and the condition of the property as of the date of listing. This is aimed at enhancing transparency for potential buyers about the property's features and hazards.
Contention
While the bill may be viewed positively in terms of enhancing buyer awareness and consumer protection, the requirement for extensive disclosures may create contention among real estate professionals. There are concerns that the additional liability placed on sellers for full disclosure may discourage property sales or complicate transactions. Moreover, ensuring compliance with these new requirements could impose additional burdens on sellers and real estate agents alike, requiring them to be thoroughly informed of gas systems in properties they are selling.