By: Cook S.B. No. 2764
(In the Senate - Filed March 14, 2025; April 3, 2025, read
first time and referred to Committee on Local Government;
May 7, 2025, reported adversely, with favorable Committee
Substitute by the following vote: Yeas 7, Nays 0; May 7, 2025, sent
to printer.)
COMMITTEE SUBSTITUTE FOR S.B. No. 2764 By: Nichols
A BILL TO BE ENTITLED
AN ACT
relating to information provided to a purchaser of a manufactured
home regarding the ability to elect to treat the home as real
property or personal property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1201.162, Occupations Code, is amended
by amending Subsection (a) and adding Subsection (d) to read as
follows:
(a) Before the completion of a credit application or more
than one day before entering into any agreement for a sale or
exchange that will not be financed, the retailer must provide to the
consumer a written disclosure in the form promulgated by the board.
The disclosure shall be in at least 12-point type and must:
(1) address:
(A) matters of concern relating to costs and
obligations that may be associated with home ownership;
(B) [,] matters to be considered in making
financing decisions;
(C) [,] related costs that may arise when
purchasing a manufactured home;
(D) a purchaser's ability to elect to treat a
manufactured home as real property or personal property; [,] and
(E) any [such] other matters as the board may
consider [deem] appropriate to promote informed purchase,
financing, and related decisions regarding the acquisition and
ownership of a manufactured home; and
(2) [. The form shall also] conspicuously disclose
the consumer's right of rescission.
(d) The disclosure required under Subsection (a)(1)(D) must
explain:
(1) the conditions required under Section
1201.2055(a) for an owner to elect to treat a manufactured home as
real property;
(2) the effects of electing to treat a home as real
property;
(3) that the election must be made on the application
for the issuance of a statement of ownership; and
(4) that the election may be made to convert the home
from personal property to real property or from real property to
personal property.
SECTION 2. Section 1201.162, Occupations Code, as amended
by this Act, applies only to a disclosure that is provided to a
consumer on or after the effective date of this Act. A disclosure
provided to a consumer 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, 2025.
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