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A BILL TO BE ENTITLED
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AN ACT
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relating to a required notice concerning an easement or |
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right-of-way in certain Texas Real Estate Commission contract |
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forms. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1101.155, Occupations Code, is amended |
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by adding Subsection (d) to read as follows: |
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(d) A contract form adopted by the commission for use in the |
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sale of property must include a notice informing the buyer that if |
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the property is subject to, or adjacent to, an easement or |
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right-of-way, the use of the easement or right-of-way, including |
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the construction or maintenance of an improvement, is governed by |
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the documents under which the easement or right-of-way was created, |
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and the use of that easement or right-of-way may affect the value of |
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the buyer's property. |
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SECTION 2. Not later than December 1, 2019, the Texas Real |
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Estate Commission shall update contract forms to comply with |
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Section 1101.155(d), Occupations Code, as added by this Act. |
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SECTION 3. This Act takes effect September 1, 2019. |