84R5529 PMO-D
By: Kolkhorst S.B. No. 483
A BILL TO BE ENTITLED
AN ACT
relating to notice of water level fluctuations to purchasers of
real property adjoining an impoundment of water.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 5, Property Code, is
amended by adding Section 5.019 to read as follows:
Sec. 5.019. NOTICE OF WATER LEVEL FLUCTUATIONS. (a) This
section applies only to the sale of residential or commercial real
property adjoining an impoundment of water, including a reservoir
or lake, constructed and maintained under Chapter 11, Water Code,
that has a storage capacity of at least 5,000 acre-feet at the
impoundment's normal operating level.
(b) A seller of real property shall give to the purchaser of
the property a written notice in substantially the following form:
NOTICE OF WATER LEVEL FLUCTUATIONS
The water level of the impoundment of water adjoining the
property at ______________ (street address and city) or described
as ______________ (legal description) fluctuates for various
reasons, including as a result of:
(1) an entity lawfully exercising its right to use the
water stored in the impoundment; or
(2) drought or flood conditions.
(c) The notice described by Subsection (b) shall be
delivered by the seller to the purchaser on or before the effective
date of an executory contract binding the purchaser to purchase the
property. If a contract is entered into without the seller
providing the notice required by this section, the purchaser may
terminate the contract for any reason within seven days after
receiving the notice.
SECTION 2. Section 5.019, Property Code, as added by this
Act, applies only to an executory contract entered into on or after
the effective date of this Act. An executory contract entered into
before the effective date of this Act is governed by the law as it
existed immediately before the effective date of this Act, and that
law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.