| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 86R13886 TSR-D | |
| 2 | 2 | By: Taylor S.B. No. 1436 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to a required notice concerning an easement or | |
| 8 | 8 | right-of-way in certain Texas Real Estate Commission contract | |
| 9 | 9 | forms. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 1101.155, Occupations Code, is amended | |
| 12 | 12 | by adding Subsection (d) to read as follows: | |
| 13 | 13 | (d) A contract form adopted by the commission for use in the | |
| 14 | 14 | sale of property must include a notice informing the buyer that if | |
| 15 | 15 | the property is subject to, or adjacent to, an easement or | |
| 16 | 16 | right-of-way, the use of the easement or right-of-way, including | |
| 17 | 17 | the construction or maintenance of an improvement, is governed by | |
| 18 | 18 | the documents under which the easement or right-of-way was created, | |
| 19 | 19 | and the use of that easement or right-of-way may affect the value of | |
| 20 | 20 | the buyer's property. | |
| 21 | 21 | SECTION 2. Not later than December 1, 2019, the Texas Real | |
| 22 | 22 | Estate Commission shall update contract forms to comply with | |
| 23 | 23 | Section 1101.155(d), Occupations Code, as added by this Act. | |
| 24 | 24 | SECTION 3. This Act takes effect September 1, 2019. |