| 1 | 1 | | 87R2100 NC-D |
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| 2 | 2 | | By: Kolkhorst S.B. No. 461 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to a seller's disclosure of the location of certain real |
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| 8 | 8 | | property in a floodplain. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter A, Chapter 5, Property Code, is |
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| 11 | 11 | | amended by adding Section 5.020 to read as follows: |
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| 12 | 12 | | Sec. 5.020. SELLER'S DISCLOSURE OF LOCATION OF CERTAIN REAL |
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| 13 | 13 | | PROPERTY IN FLOODPLAIN. (a) A seller of a tract of real property |
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| 14 | 14 | | that measures less than 15 acres and that does not have a residence |
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| 15 | 15 | | located or being constructed on the property at the time of the sale |
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| 16 | 16 | | shall provide to the purchaser of the property a written notice |
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| 17 | 17 | | disclosing whether any part of the property is located in a |
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| 18 | 18 | | floodplain. If any part of the property is located in a floodplain, |
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| 19 | 19 | | the notice must include a copy of a current elevation certificate, |
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| 20 | 20 | | topographical survey, plat, or flood map that indicates the part of |
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| 21 | 21 | | the property that is located in the floodplain. |
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| 22 | 22 | | (b) The notice must be delivered by the seller on or before |
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| 23 | 23 | | the effective date of an executory contract binding the purchaser |
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| 24 | 24 | | to purchase the property. |
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| 25 | 25 | | (c) The purchaser is entitled to recover from the seller |
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| 26 | 26 | | damages caused by flooding on any part of the purchased real |
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| 27 | 27 | | property that is located in a floodplain if: |
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| 28 | 28 | | (1) the seller fails to provide the purchaser the |
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| 29 | 29 | | notice required by this section; and |
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| 30 | 30 | | (2) the flooding occurs before the fifth anniversary |
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| 31 | 31 | | of the date of the purchase. |
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| 32 | 32 | | SECTION 2. This Act takes effect September 1, 2021. |
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