Texas Property Code
§ 27.0042 — CONDITIONAL SALE TO BUILDER
PR § 27.0042Title 4. ACTIONS AND REMEDIES · Ch. 27. RESIDENTIAL CONSTRUCTION LIABILITY
Statute text
View on source(a)A written agreement between a contractor and a homeowner may provide that, if the reasonable cost of repairs necessary to repair a construction defect that is the responsibility of the contractor exceeds an agreed percentage of the current fair market value of the residence, as determined without reference to the construction defects, then, in an action subject to this chapter, the contractor may elect as an alternative to the damages specified in Section 27.004(g) that the contractor who sold the residence to the homeowner purchase it.
(b)Repealed by Acts 2023, 88th Leg., R.S., Ch. 441 (H.B. 2022), Sec. 8(2), eff. September 1, 2023.
(c)If a contractor elects to purchase the residence under Subsection (a):
(1)the contractor shall pay the original purchase price of the residence and closing costs incurred by the homeowner and the cost of transferring title to the contractor under the election;
(2)the homeowner may recover:
(A)reasonable and necessary attorney's and expert fees as identified in Section 27.004(g);
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Legislative history
Acts 2023, 88th Leg., R.S., Ch. 291 (S.B. 1768), Sec. 5, eff. May 29, 2023. Acts 2023, 88th Leg., R.S., Ch. 441 (H.B. 2022), Sec. 5, eff. September 1, 2023. Acts 2023, 88th Leg., R.S., Ch. 441 (H.B. 2022), Sec. 8(2), eff. September 1, 2023.