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A BILL TO BE ENTITLED
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AN ACT
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relating to a seller's disclosure of the location of certain real |
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property in a floodplain. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 5, Property Code, is |
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amended by adding Section 5.020 to read as follows: |
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Sec. 5.020. SELLER'S DISCLOSURE OF LOCATION OF CERTAIN REAL |
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PROPERTY IN FLOODPLAIN. (a) A seller of a tract of real property |
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that measures less than 15 acres and that does not have a residence |
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located or being constructed on the property at the time of the sale |
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shall provide to the purchaser of the property a written notice |
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disclosing whether any part of the property is located in a |
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floodplain. If any part of the property is located in a floodplain, |
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the notice must include a copy of a current elevation certificate, |
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topographical survey, plat, or flood map that indicates the part of |
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the property that is located in the floodplain. |
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(b) The notice must be delivered by the seller on or before |
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the effective date of an executory contract binding the purchaser |
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to purchase the property. |
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(c) The purchaser is entitled to recover from the seller |
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damages caused by flooding on any part of the purchased real |
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property that is located in a floodplain if: |
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(1) the seller fails to provide the purchaser the |
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notice required by this section; and |
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(2) the flooding occurs before the fifth anniversary |
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of the date of the purchase. |
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SECTION 2. This Act takes effect September 1, 2021. |