Tex. Prop. Code Section 5.062
Applicability

(a)

This subchapter applies only to a transaction involving an executory contract for conveyance of real property used or to be used as the purchaser’s residence or as the residence of a person related to the purchaser within the second degree by consanguinity or affinity, as determined under Chapter 573 (Degrees of Relationship; Nepotism Prohibitions), Government Code. For purposes of this subchapter, and only for the purposes of this subchapter:

(1)

a lot measuring one acre or less is presumed to be residential property; and

(2)

an option to purchase real property that includes or is combined or executed concurrently with a residential lease agreement, together with the lease, is considered an executory contract for conveyance of real property.

(b)

This subchapter does not apply to the following transactions under an executory contract:

(1)

the sale of state land; or

(2)

a sale of land by:

(A)

the Veterans’ Land Board;

(B)

this state or a political subdivision of this state; or

(C)

an instrumentality, public corporation, or other entity created to act on behalf of this state or a political subdivision of this state, including an entity created under Chapter 303 (Public Facility Corporations), 392 (Housing Authorities Established by Municipalities and Counties), or 394 (Housing Finance Corporations in Municipalities and Counties), Local Government Code.

(c)

This subchapter does not apply to an executory contract that provides for the delivery of a deed from the seller to the purchaser within 180 days of the date of the final execution of the executory contract.

(d)

Section 5.066 (Equity Protection; Sale of Property) and Sections 5.068-5.080 do not apply to a transaction involving an executory contract for conveyance if the purchaser of the property:

(1)

is related to the seller of the property within the second degree by consanguinity or affinity, as determined under Chapter 573 (Degrees of Relationship; Nepotism Prohibitions), Government Code; and

(2)

has waived the applicability of those sections in a written agreement.

(e)

Sections 5.066 (Equity Protection; Sale of Property), 5.067 (Placement of Lien for Utility Service), 5.071 (Seller’s Disclosure of Financing Terms), 5.075, 5.079 (Title Transfer), 5.081 (Right to Convert Contract), and 5.082 (Request for Balance and Trustee) do not apply to an executory contract described by Subsection (a)(2).

(f)

Notwithstanding any other provision of this subchapter, only the following sections apply to an executory contract described by Subsection (a)(2) if the term of the contract is three years or less and the purchaser and seller, or the purchaser’s or seller’s assignee, agent, or affiliate, have not been parties to an executory contract to purchase the property covered by the executory contract for longer than three years:

(1)

Sections 5.063-5.065;

(2)

Section 5.073 (Contract Terms, Certain Waivers Prohibited), except for Section 5.073 (Contract Terms, Certain Waivers Prohibited)(a)(2); and

(3)

Sections 5.083 (Right to Cancel Contract for Improper Platting) and 5.085 (Fee Simple Title Required; Maintenance of Fee Simple Title).

(g)

Except as provided by Subsection (b), if Subsection (f) conflicts with another provision of this subchapter, Subsection (f) prevails.
Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. Sept. 1, 1995. Renumbered from Property Code Sec. 5.091 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. 2, eff. September 1, 2005.
Acts 2015, 84th Leg., R.S., Ch. 996 (H.B. 311), Sec. 1, eff. September 1, 2015.

Source: Section 5.062 — Applicability, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­5.­htm#5.­062 (accessed Apr. 13, 2024).

5.001
Fee Simple 5.002
Failing as a Conveyance 5.003
Partial Conveyance 5.004
Conveyance by Authorized Officer 5.005
Aliens 5.006
Attorney’s Fees in Breach of Restrictive Covenant Action 5.007
Vendor and Purchaser Risk Act 5.008
Seller’s Disclosure of Property Condition 5.009
Duties of Life Tenant 5.010
Notice of Additional Tax Liability 5.011
Seller’s Disclosure Regarding Potential Annexation 5.012
Notice of Obligations Related to Membership in Property Owners’ Association 5.013
Seller’s Disclosure of Location of Conditions Under Surface of Unimproved Real Property 5.014
Notice of Obligations Related to Public Improvement District 5.015
Prohibited Fees 5.016
Conveyance of Residential Property Encumbered by Lien 5.019
Notice of Water Level Fluctuations 5.020
Easements Restricting Possession of Firearms or Alcoholic Beverages Prohibited 5.021
Instrument of Conveyance 5.022
Form 5.023
Implied Covenants 5.024
Encumbrances 5.025
Wood Shingle Roof 5.026
Discriminatory Provisions 5.027
Correction Instruments: Generally 5.028
Correction Instruments: Nonmaterial Corrections 5.029
Correction Instruments: Material Corrections 5.030
Correction Instrument: Effect 5.041
Future Estates 5.042
Abolition of Common-law Rules 5.043
Reformation of Interests Violating Rule Against Perpetuities 5.061
Definition 5.062
Applicability 5.063
Notice 5.064
Seller’s Remedies on Default 5.065
Right to Cure Default 5.066
Equity Protection 5.067
Placement of Lien for Utility Service 5.068
Foreign Language Requirement 5.069
Seller’s Disclosure of Property Condition 5.070
Seller’s Disclosure of Tax Payments and Insurance Coverage 5.071
Seller’s Disclosure of Financing Terms 5.072
Oral Agreements Prohibited 5.073
Contract Terms, Certain Waivers Prohibited 5.074
Purchaser’s Right to Cancel Contract Without Cause 5.076
Recording Requirements 5.077
Annual Accounting Statement 5.078
Disposition of Insurance Proceeds 5.079
Title Transfer 5.080
Liability for Disclosures 5.081
Right to Convert Contract 5.082
Request for Balance and Trustee 5.083
Right to Cancel Contract for Improper Platting 5.084
Right to Deduct 5.085
Fee Simple Title Required 5.087
Additional Provisions: Certain Counties 5.0141
Notice Required Before Contract Execution 5.0142
Purchaser Signature Required 5.0143
Recording of Notice at Closing 5.0144
Reliance on Filed Service Plan 5.0145
Suits for Damages 5.151
Disclosure in Offer to Purchase Mineral Interest 5.152
Certain Purchases of Mineral or Royalty Interests Void 5.201
Definitions 5.202
Certain Private Transfer Fee Obligations Void 5.203
Notice Requirements for Continuation of Existing Private Transfer Fee Obligations 5.204
Additional Compliance Requirement: Timely Acceptance of Fees Paid Under Existing Private Transfer Fee Obligations 5.0205
Equitable Interest Disclosure 5.205
Disclosure of Existing Transfer Fee Obligation Required in Contract for Sale 5.206
Waiver Void 5.207
Injunctive or Declaratory Relief 5.0261
Removal of Discriminatory Provision from Recorded Conveyance Instrument 5.0621
Construction with Other Law 5.0622
Additional Applicability: Certain Counties
Green check means up to date. Up to date

Accessed:
Apr. 13, 2024

§ 5.062’s source at texas​.gov