79th Texas Legislature, Regular Session, House Bill 1823, Chapter 978 Page: 3 of 16
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H.B. No. 1823
1 described by Subsection (a)(2) if the term of the contract is three
2 years or less and the purchaser and seller, or the purchaser's or
3 seller's assignee, agent, or affiliate, have not been parties to an
4 executory contract to purchase the property covered by the
5 executory contract for longer than three years:
6 (1) Sections 5.063-5.065;
7 (2) Section 5.073, except for Section 5.073(a) (2); and
8 (3) Sections 5.083 and 5.085.
9 (g) Except as provided by Subsection (b), if Subsection (f)
10 conflicts with another provision of this subchapter, Subsection (f)
12 SECTION 3. Subchapter D, Chapter 5, Property Code, is
13 amended by adding Section 5.0621 to read as follows:
14 Sec. 5.0621. CONSTRUCTION WITH OTHER LAW. (a) Except as
15 provided by Subsection (b), the provisions of this subchapter and
16 Chapter 92 apply to the portion of an executory contract described
17 by Section 5.062(a) (2) that is a residential lease agreement.
18 (b) After a tenant exercises an option to purchase leased
19 property under a residential lease described by Subsection (a),
20 Chapter 92 no longer applies to the lease.
21 SECTION 4. Section 5.073, Property Code, is amended to read
22 as follows:
23 Sec. 5.073. CONTRACT TERMS, CERTAIN WAIVERS PROHIBITED.
24 (a) A seller may not include as a term of the executory contract a
25 provision that:
26 (1) imposes an additional late-payment fee that
27 exceeds the lesser of:
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Texas. Legislature. House of Representatives. 79th Texas Legislature, Regular Session, House Bill 1823, Chapter 978, legislative document, June 18, 2005; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth156637/m1/3/: accessed December 11, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.