TITLE: Relating to requiring information regarding easements to be included in a commitment for title insurance.

SUMMARY: Relating to requiring information regarding easements to be included in a commitment for title insurance.

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