reglab/housing_qa huggingface dataset:
TX Prop § 5.076 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.076. Recording Requirements

Sec. 5.076.  RECORDING REQUIREMENTS.  (a)  Except as provided by Subsection (b), the seller shall record the executory contract, including the attached disclosure statement required by Section 5.069, as prescribed by Title 3 on or before the 30th day after the date the contract is executed.(b)  Section 12.002(c) does not apply to an executory contract filed for record under this section.(c)  If the executory contract is terminated for any reason, the seller shall record the instrument that terminates the contract.(d)  The county clerk shall collect the filing fee prescribed by Section 118.011, Local Government Code.(e)  A seller who violates this section is liable to the purchaser in the same manner and for the same amount as a seller who violates Section 5.079 is liable to a purchaser, except the damages may not exceed $500 for each calendar year of noncompliance. This subsection does not limit or affect any other rights or remedies a purchaser has under other law.|Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. Sept. 1, 1995.  Renumbered from Property Code Sec. 5.099 and amended Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. Sept. 1, 2001.Amended by: Acts 2015, 84th Leg., R.S., Ch. 996 (H.B. 311), Sec. 5, eff. September 1, 2015.|
TX Prop § 5.077 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.077. Annual Accounting Statement

Sec. 5.077.  ANNUAL ACCOUNTING STATEMENT.  (a)  The seller shall provide the purchaser with an annual statement in January of each year for the term of the executory contract.  If the seller mails the statement to the purchaser, the statement must be postmarked not later than January 31.(b)  The statement must include the following information:(1)  the amount paid under the contract;(2)  the remaining amount owed under the contract;(3)  the number of payments remaining under the contract;  (4)  the amounts paid to taxing authorities on the purchaser's behalf if collected by the seller;(5)  the amounts paid to insure the property on the purchaser's behalf if collected by the seller;(6)  if the property has been damaged and the seller has received insurance proceeds, an accounting of the proceeds applied to the property;  and(7)  if the seller has changed insurance coverage, a legible copy of the current policy, binder, or other evidence that satisfies the requirements of Section 5.070(a)(2).(c)  A seller who conducts less than two transactions in a 12-month period under this section who fails to comply with Subsection (a) is liable to the purchaser for:(1)  liquidated damages in the amount of $100 for each annual statement the seller fails to provide to the purchaser within the time required by Subsection (a); and(2)  reasonable attorney's fees.(d)  A seller who conducts two or more transactions in a 12-month period under this section who fails to comply with Subsection (a) is liable to the purchaser for:(1)  liquidated damages in the amount of $250 a day for each day after January 31 that the seller fails to provide the purchaser with the statement, but not to exceed the fair market value of the property; and(2)  reasonable attorney's fees.(e)  The requirements of this section continue to apply after a purchaser obtains title to the property by conversion or any other process.|Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. Sept. 1, 1995. Renumbered from Property Code Sec. 5.100 and amended by Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. Sept. 1, 2001.Amended by: Acts 2005, 79th Leg., Ch. 978 (H.B. 1823), Sec. 5, eff. September 1, 2005.Acts 2015, 84th Leg., R.S., Ch. 996 (H.B. 311), Sec. 6, eff. September 1, 2015.|
TX Prop § 5.078 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.078. Disposition of Insurance Proceeds

Sec. 5.078.  DISPOSITION OF INSURANCE PROCEEDS.  (a)  The named insured under an insurance policy, binder, or other coverage relating to property subject to an executory contract for the conveyance of real property shall inform the insurer, not later than the 10th day after the date the coverage is obtained or the contract executed, whichever is later, of:(1)  the executory contract for conveyance and the term of the contract;  and(2)  the name and address of the other party to the contract.(b)  An insurer who disburses proceeds under an insurance policy, binder, or other coverage relating to property that has been damaged shall issue the proceeds jointly to the purchaser and the seller designated in the contract.(c)  If proceeds under an insurance policy, binder, or other coverage are disbursed, the purchaser and seller shall ensure that the proceeds are used to repair, remedy, or improve the condition on the property.(d)  The failure of a seller or purchaser to comply with Subsection (c) is a false, misleading, or deceptive act or practice within the meaning of Section 17.46, Business & Commerce Code, and is actionable in a public or private suit brought under Subchapter E, Chapter 17, Business & Commerce Code.(e)  Subsection (d) does not limit either party's remedy for other false, misleading, or deceptive acts or practices actionable in a suit brought under Subchapter E, Chapter 17, Business & Commerce Code.|Added by Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. Sept. 1, 2001.|
TX Prop § 5.079 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.079. Title Transfer

Sec. 5.079.  TITLE TRANSFER.  (a)  A recorded executory contract shall be the same as a deed with a vendor's lien.  The vendor's lien is for the amount of the unpaid contract price, less any lawful deductions, and may be enforced by foreclosure sale under Section 5.066 or by judicial foreclosure.  A general warranty is implied unless otherwise limited by the recorded executory contract.  If an executory contract has not been recorded or converted under Section 5.081, the seller shall transfer recorded, legal title of the property covered by the executory contract to the purchaser not later than the 30th day after the date the seller receives the purchaser's final payment due under the contract.(b)  A seller who violates Subsection (a) is liable to the purchaser for:(1)  liquidated damages in the amount of:(A)  $250 a day for each day the seller fails to transfer the title to the purchaser during the period that begins the 31st day and ends the 90th day after the date the seller receives the purchaser's final payment due under the contract;  and(B)  $500 a day for each day the seller fails to transfer title to the purchaser after the 90th day after the date the seller receives the purchaser's final payment due under the contract;  and(2)  reasonable attorney's fees.(c)  If a person to whom a seller's property interest passes by will or intestate succession is required to obtain a court order to clarify the person's status as an heir or to clarify the status of the seller or the property before the person may convey good and indefeasible title to the property, the court in which the action is pending may waive payment of the liquidated damages and attorney's fees under Subsection (b) if the court finds that the person is pursuing the action to establish good and indefeasible title with reasonable diligence.(d)  In this section, "seller" includes a successor, assignee, personal representative, executor, or administrator of the seller.|Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. Sept. 1, 1995.  Renumbered from Property Code Sec. 5.102 and amended by Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. Sept. 1, 2001.Amended by: Acts 2015, 84th Leg., R.S., Ch. 996 (H.B. 311), Sec. 7, eff. September 1, 2015.|
TX Prop § 5.080 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.080. Liability for Disclosures

Sec. 5.080.  LIABILITY FOR DISCLOSURES.  For purposes of this subchapter, a disclosure required by this subchapter that is made by a seller's agent is a disclosure made by the seller.|Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. Sept. 1, 1995.  Renumbered from Property Code Sec. 5.103 and amended by Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. Sept. 1, 2001.|
TX Prop § 5.082 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.082. Request for Balance and Trustee

Sec. 5.082.  REQUEST FOR BALANCE AND TRUSTEE.  (a)  A purchaser under an executory contract, on written request, is entitled to receive the following information from the seller:(1)  as of the date of the request or another date specified by the purchaser, the amount owed by the purchaser under the contract; and(2)  if applicable, the name and address of the seller's desired trustee for a deed of trust to be executed under Section 5.081.(b)  On or before the 10th day after the date the seller receives from the purchaser a written request for information described by Subsection (a), the seller shall provide to the purchaser a written statement of the requested information.(c)  If the seller does not timely respond to a request made under this section, the purchaser may:(1)  determine or pay the amount owed under the contract, including determining the amount necessary for a promissory note under Section 5.081; and(2)  if applicable, select a trustee for a deed of trust under Section 5.081.(d)  For purposes of Subsection (c)(2), a purchaser must select a trustee that lives or has a place of business in the same county where the property covered by the executory contract is located.(e)  Not later than the 20th day after the date a seller receives notice of an amount determined by a purchaser under Subsection (c)(1), the seller may contest that amount by sending a written objection to the purchaser.  An objection under this subsection must:(1)  be sent to the purchaser by regular and certified mail;(2)  include the amount the seller claims is the amount owed under the contract; and(3)  be based on written records kept by the seller or the seller's agent that were maintained and regularly updated for the entire term of the executory contract.|Added by Acts 2005, 79th Leg., Ch. 978 (H.B. 1823), Sec. 6, eff. September 1, 2005.|
TX Prop § 5.083 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.083. Right to Cancel Contract for Improper Platting

Sec. 5.083.  RIGHT TO CANCEL CONTRACT FOR IMPROPER PLATTING.  (a)  Except as provided by Subsection (c), in addition to other rights or remedies provided by law, the purchaser may cancel and rescind an executory contract at any time if the purchaser learns that the seller has not properly subdivided or platted the property that is covered by the contract in accordance with state and local law.  A purchaser canceling and rescinding a contract under this subsection must:(1)  deliver a signed, written notice of the cancellation and rescission to the seller in person; or(2)  send a signed, written notice of the cancellation and rescission to the seller by telegram or certified or registered mail, return receipt requested.(b)  If the purchaser cancels the contract as provided under Subsection (a), the seller, not later than the 10th day after the date the seller receives the notice of cancellation and rescission, shall:(1)  deliver in person or send by telegram or certified or registered mail, return receipt requested, to the purchaser a signed, written notice that the seller intends to subdivide or plat the property properly; or(2)  return to the purchaser all payments of any kind made to the seller under the contract and reimburse the purchaser for:(A)  any payments the purchaser made to a taxing authority for the property; and(B)  the value of any improvements made to the property by the purchaser.(c)  A purchaser may not exercise the purchaser's right to cancel and rescind an executory contract under this section if, on or before the 90th day after the date the purchaser receives the seller's notice under Subsection (b)(1), the seller:(1)  properly subdivides or plats the property; and(2)  delivers in person or sends by telegram or certified or registered mail, return receipt requested, to the purchaser a signed, written notice evidencing that the property has been subdivided or platted in accordance with state and local law.(d)  The seller may not terminate the purchaser's possession of the property covered by the contract being canceled and rescinded before the seller pays the purchaser any money to which the purchaser is entitled under Subsection (b).|Added by Acts 2005, 79th Leg., Ch. 978 (H.B. 1823), Sec. 6, eff. September 1, 2005.|
TX Prop § 5.084 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.084. Right to Deduct

Sec. 5.084.  RIGHT TO DEDUCT.  If a seller is liable to a purchaser under this subchapter, the purchaser, without taking judicial action, may deduct the amount owed to the purchaser by the seller from any amounts owed to the seller by the purchaser under the terms of an executory contract.|Added by Acts 2005, 79th Leg., Ch. 978 (H.B. 1823), Sec. 6, eff. September 1, 2005.|
TX Prop § 5.086 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.086. Equitable Interest Disclosure

Sec. 5.086.  EQUITABLE INTEREST DISCLOSURE.  Before entering into a contract, a person selling an option or assigning an interest in a contract to purchase real property must disclose to any potential buyer that the person is selling only an option or assigning an interest in a contract and that the person does not have legal title to the real property.|Added by Acts 2017, 85th Leg., R.S., Ch. 974 (S.B. 2212), Sec. 4, eff. September 1, 2017.|
TX Prop § 5.087 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter D. Executory Contract for Conveyance|Section 5.087. Additional Provisions: Certain Counties

Sec. 5.087.  ADDITIONAL PROVISIONS: CERTAIN COUNTIES.  (a)  This section applies only to a county adopting an order under Section 5.0622.(b)  The commissioners court may not modify the provisions of this subchapter except the commissioners court may provide in the order that an executory contract to which the order applies may not be used to purchase land for residential purposes unless the conversion authorized by Section 5.081 is required to occur not later than three years after the date the executory contract is entered into.|Added by Acts 2021, 87th Leg., R.S., Ch. 911 (H.B. 4374), Sec. 2, eff. September 1, 2021.|
TX Prop § 5.151 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter F. Requirements for Conveyances of Mineral or Royalty Interests|Section 5.151. Disclosure in Offer to Purchase Mineral Interest

Sec. 5.151.  DISCLOSURE IN OFFER TO PURCHASE MINERAL INTEREST.  (a)  A person who mails to the owner of a mineral or royalty interest an offer to purchase only the mineral or royalty interest, it being understood that for the purpose of this section the taking of an oil, gas, or mineral lease shall not be deemed a purchase of a mineral or royalty interest, and encloses an instrument of conveyance of only the mineral or royalty interest and a draft or other instrument, as defined in Section 3.104, Business & Commerce Code, providing for payment for that interest shall include in the offer a conspicuous statement printed in a type style that is approximately the same size as 14-point type style or larger and is in substantially the following form:BY EXECUTING AND DELIVERING THIS INSTRUMENT YOU ARE SELLING ALL OR A PORTION OF YOUR MINERAL OR ROYALTY INTEREST IN (DESCRIPTION OF PROPERTY BEING CONVEYED).(b)  A person who conveys a mineral or royalty interest as provided by Subsection (a) may bring suit against the purchaser of the interest if:(1)  the purchaser did not give the notice required by Subsection (a);  and(2)  the person has given 30 days' written notice to the purchaser that a suit will be filed unless the matter is otherwise resolved.(c)  A plaintiff who prevails in a suit under Subsection (b) may recover from the initial purchaser of the mineral or royalty interest the greater of:(1)  $100;  or(2)  an amount up to the difference between the amount paid by the purchaser for the mineral or royalty interest and the fair market value of the mineral or royalty interest at the time of the sale.(d)  The prevailing party in a suit under Subsection (b) may recover:(1)  court costs;  and(2)  reasonable attorney's fees.(e)  A person must bring a suit under Subsection (b) not later than the second anniversary of the date the person executed the conveyance.(f)  The remedy provided under this section shall be in addition to any other remedies existing under law, excluding rescission or other remedies that would make the conveyance of the mineral or royalty interest void or of no force and effect.|Added by Acts 1999, 76th Leg., ch. 1200, Sec. 1, eff. Sept. 1, 1999.|
TX Prop § 5.152 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter F. Requirements for Conveyances of Mineral or Royalty Interests|Section 5.152. Certain Purchases of Mineral or Royalty Interests Void

Sec. 5.152.  CERTAIN PURCHASES OF MINERAL OR ROYALTY INTERESTS VOID.  (a)  This section applies only to the conveyance of a mineral or royalty interest by an instrument that:(1)  is presented to the owner of the interest by the person acquiring the interest;(2)  is titled an oil and gas lease or an oil and gas royalty lease or has other words in the caption or other prominently displayed label that indicate that the transaction is a lease of a mineral or royalty interest; and(3)  has the effect of conveying, permanently or for a term, all or a portion of the owner's:(A)  mineral interest in lands covered by an existing oil, gas, or mineral lease; or(B)  royalty interest in production from an existing oil, gas, or mineral lease.(b)  This section does not apply to a conveyance of a mineral or royalty interest by an instrument that:(1)  is an oil, gas, or mineral lease;(2)  conveys a mineral or royalty interest for a term; and(3)  provides that the interest conveyed vests in possession after the expiration or termination of all or a portion of the interest conveyed by an existing oil, gas, or mineral lease in effect at the time of the execution of the instrument, commonly referred to as a top lease.(c)  A conveyance instrument described by Subsection (a) must include:(1)  a conspicuous statement printed at the top of the first page of the instrument below the caption, if any, in an approximate type size of at least 14 points and in substantially the following form:THIS IS NOT AN OIL AND GAS LEASE. YOU ARE SELLING ALL OR A PORTION OF YOUR MINERAL OR ROYALTY INTERESTS IN (DESCRIPTION OF PROPERTY BEING CONVEYED).; and(2)  a conspicuous statement printed at the top of each subsequent page of the instrument and immediately above the signature of the person conveying the interest in an approximate  type size of at least 14 points and in substantially the following form:THIS IS NOT AN OIL AND GAS LEASE. YOU ARE SELLING ALL OR A PORTION OF YOUR MINERAL OR ROYALTY INTERESTS.(d)  If the conveyance instrument does not include the statements required by Subsection (c), the conveyance is void.(e)  A person who has conveyed a royalty or mineral interest in a conveyance that is void under this section may bring suit against the purchaser of the interest to remove the conveyance as a cloud on title and may recover from the purchaser:(1)  all royalties and bonuses paid to the purchaser and any successor or assign of the purchaser;(2)  court costs; and(3)  reasonable attorney's fees.(f)  The remedies under this section are in addition to any other rights or remedies a person may have at law or pursuant to contract.|Added by Acts 2019, 86th Leg., R.S., Ch. 914 (H.B. 3838), Sec. 1, eff. September 1, 2019.|
TX Prop § 5.201 (2021)
2021 Texas Statutes|Property Code|Title 2 - Conveyances|Chapter 5 - Conveyances|Subchapter G. Certain Private Transfer Fees Prohibited; Preservation of Private Real Property Rights|Section 5.201. Definitions

Sec. 5.201.  DEFINITIONS.  In this subchapter:(1)  "Encumbered property" means all property, including the property of a subsequent purchaser, subject to the same private transfer fee obligation.(2)  "Lender" means a lending institution, including a bank, trust company, banking association, savings and loan association, mortgage company, investment bank, credit union, life insurance company, and governmental agency, that customarily provides financing or an affiliate of a lending institution.(3)  "Payee" means a person who claims the right to receive or collect a private transfer fee payable under a private transfer fee obligation and who may or may not have a pecuniary interest in the obligation.(4)  "Private transfer fee" means an amount of money, regardless of the method of determining the amount, that is payable on the transfer of an interest in real property or payable for a right to make or accept a transfer.(5)  "Private transfer fee obligation" means an obligation to pay a private transfer fee created under:(A)  a declaration or other covenant recorded in the real property records in the county in which the property subject to the private transfer fee obligation is located;(B)  a contractual agreement or promise; or(C)  an unrecorded contractual agreement or promise.(6)  "Subsequent owner" means a person who acquires real property by transfer from a person other than the person who is the seller of the property on the date the private transfer fee obligation is created.(7)  "Subsequent purchaser" means a person who purchases real property from a person other than the person who is the seller on the date the private transfer fee obligation is created.  The term includes a lender who provides a mortgage loan to a subsequent purchaser to purchase the property.(8)  "Transfer" means the sale, gift, conveyance, assignment, inheritance, or other transfer of an ownership interest in real property.|Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011.|