Texas Property Code

§ 5.077 — ANNUAL ACCOUNTING STATEMENT

PR § 5.077Title 2. CONVEYANCES · Ch. 5. CONVEYANCES · Art. D. EXECUTORY CONTRACT FOR CONVEYANCE

Statute text

(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;

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Legislative history

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.