Legislative News Effecting All Real Estate
Professionals
"Impact on Realtors and Property Owners"
Urban Homestead: Increases Homestead
from one acre to 10 acres. Will help more homeowners to obtain
home equity loans. Awaits Texas voters in November.
Property Management info: Effective
on September 1, 1999.
Tenant turnover to include homeowners as it relates to
security devices required in residential rentals. The Bill
requires change of locks before a tenant moves into a rental
property regardless of weather the previous occupant was an
owner or tenant.
Annexation: If approved, will become
effective Jan. 1, 2000.
Disclosure by seller to buyer that buyer may contact area
municipalities to obtain information about annexation.
Disclosure may be made part of standard contract forms or any
other notice the seller may give buyer.
Homeowners associations: If approved
by the Governor it will be affective September 1, 1999.
Requires a homeowners association to deliver a resale
certificate after an owner files a request. |