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A BILL TO BE ENTITLED
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AN ACT
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relating to requiring information regarding easements to be |
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included in a commitment for title insurance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2703.101, Insurance Code, is amended by |
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adding Subsection (h) to read as follows: |
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(h) The commissioner shall by rule adopt language for a |
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disclosure regarding the nature and use of easements near |
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residential real property and require the disclosure to be included |
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in a title commitment for residential real property. The |
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disclosure must inform a person who purchases a title commitment |
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that, if the property is subject to or in an area near an easement: |
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(1) the nature and use of the easement may be subject |
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to change; and |
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(2) the owner of the easement may not be required to |
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notify nearby property owners about a change in the nature or use of |
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the easement. |
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SECTION 2. Not later than January 1, 2020, the commissioner |
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of insurance shall adopt rules under Section 2703.101(h), Insurance |
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Code, as added by this Act. |
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SECTION 3. This Act takes effect September 1, 2019. |