Texas 2011 - 82nd Regular

Texas House Bill HB3483 Compare Versions

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1	1	82R9838 TJS-D
2	2	By: Christian H.B. No. 3483
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to seller's disclosure regarding the presence of
8	8	contaminants on residential real property.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subchapter A, Chapter 5, Property Code, is
11	11	amended by adding Section 5.019 to read as follows:
12	12	Sec. 5.019. SELLER'S DISCLOSURE REGARDING CONTAMINATION.
13	13	(a) A person who sells an interest in residential real property in
14	14	this state shall give to the purchaser of the property written
15	15	notice that specifies the nature of any contamination on or under
16	16	the property, including the contaminant, the source, if known, and
17	17	the location and extent of the contamination.
18	18	(b) The seller shall deliver the notice to the purchaser
19	19	before the date the executory contract binds the purchaser to
20	20	purchase the property. The notice may be given separately, as part
21	21	of the contract during negotiations, or as part of any other notice
22	22	the seller delivers to the purchaser.
23	23	(c) This section does not apply to a transfer:
24	24	(1) under a court order or foreclosure sale;
25	25	(2) by a trustee in bankruptcy;
26	26	(3) to a mortgagee by a mortgagor or successor in
27	27	interest or to a beneficiary of a deed of trust by a trustor or
28	28	successor in interest;
29	29	(4) by a mortgagee or a beneficiary under a deed of
30	30	trust who has acquired the land at a sale conducted under a power of
31	31	sale under a deed of trust or a sale under a court-ordered
32	32	foreclosure or has acquired the land by a deed in lieu of
33	33	foreclosure;
34	34	(5) by a fiduciary in the course of the administration
35	35	of a decedent's estate, guardianship, conservatorship, or trust;
36	36	(6) from one co-owner to another co-owner of an
37	37	undivided interest in the real property;
38	38	(7) to a spouse or a person in the lineal line of
39	39	consanguinity of the seller;
40	40	(8) to or from a governmental entity;
41	41	(9) of only a mineral interest, leasehold interest, or
42	42	security interest; or
43	43	(10) of real property that is located wholly within a
44	44	municipality's corporate boundaries.
45	45	(d) If an executory contract is entered into without the
46	46	seller providing the notice required by this section, the purchaser
47	47	may terminate the contract for any reason within the earlier of:
48	48	(1) seven days after the date the purchaser receives
49	49	the notice; or
50	50	(2) the date the transfer occurs.
51	51	SECTION 2. The change in law made by this Act applies only
52	52	to a transfer of property that occurs on or after the effective date
53	53	of this Act. For purposes of this section, a transfer of property
54	54	occurs before the effective date of this Act if an executory
55	55	contract binding the purchaser to purchase the property is executed
56	56	before that date. Property transferred before the effective date of
57	57	this Act is governed by the law in effect immediately before the
58	58	effective date of this Act, and that law is continued in effect for
59	59	that purpose.
60	60	SECTION 3. This Act takes effect September 1, 2011.