TX
Texas House Bill HB1059

Texas 2021 - 87th Regular

Texas House Bill HB1059 Compare Versions

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1-87R16445 NC-D
1+87R2100 NC-D
22 By: Stephenson H.B. No. 1059
3- Substitute the following for H.B. No. 1059:
4- By: Thompson of Harris C.S.H.B. No. 1059
53
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75 A BILL TO BE ENTITLED
86 AN ACT
97 relating to a seller's disclosure of the location of certain real
108 property in a floodplain.
119 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1210 SECTION 1. Subchapter A, Chapter 5, Property Code, is
1311 amended by adding Section 5.020 to read as follows:
1412 Sec. 5.020. SELLER'S DISCLOSURE OF LOCATION OF CERTAIN REAL
15- PROPERTY IN FLOODPLAIN. (a) In this section:
16- (1) "100-year floodplain" means any area of land that:
17- (A) is identified on the flood insurance rate map
18- as a special flood hazard area, which is designated as Zone A, V,
19- A99, AE, AO, AH, VE, or AR on the map;
20- (B) has a one percent annual chance of flooding;
21- and
22- (C) may include a regulatory floodway, flood
23- pool, or reservoir.
24- (2) "Flood insurance rate map" means the most recent
25- flood hazard map published by the Federal Emergency Management
26- Agency under the National Flood Insurance Act of 1968 (42 U.S.C.
27- Section 4001 et seq.).
28- (b) A seller of a tract of real property that measures less
29- than 15 acres and that does not have a residence located or being
30- constructed on the property at the time of the sale shall provide to
31- the purchaser of the property a written notice disclosing whether
32- any part of the property is located in a 100-year floodplain. If
33- any part of the property is located in a 100-year floodplain, the
34- notice must include a copy of a current flood insurance rate map
35- that indicates the part of the property that is located in the
36- floodplain.
37- (c) The notice must be delivered by the seller on or before
13+ PROPERTY IN FLOODPLAIN. (a) A seller of a tract of real property
14+ that measures less than 15 acres and that does not have a residence
15+ located or being constructed on the property at the time of the sale
16+ shall provide to the purchaser of the property a written notice
17+ disclosing whether any part of the property is located in a
18+ floodplain. If any part of the property is located in a floodplain,
19+ the notice must include a copy of a current elevation certificate,
20+ topographical survey, plat, or flood map that indicates the part of
21+ the property that is located in the floodplain.
22+ (b) The notice must be delivered by the seller on or before
3823 the effective date of an executory contract binding the purchaser
3924 to purchase the property.
40- (d) The purchaser is entitled to recover from the seller
25+ (c) The purchaser is entitled to recover from the seller
4126 damages caused by flooding on any part of the purchased real
42- property that is located in a 100-year floodplain if:
27+ property that is located in a floodplain if:
4328 (1) the seller fails to provide the purchaser the
4429 notice required by this section; and
4530 (2) the flooding occurs before the fifth anniversary
4631 of the date of the purchase.
4732 SECTION 2. This Act takes effect September 1, 2021.