H.B. No. 2468 amends the Property Code to enhance the rights of purchasers in real estate transactions regarding properties located in public improvement districts. Specifically, it allows a purchaser to terminate a contract of purchase and sale if the seller fails to provide notice about the property's location in such a district. The bill stipulates that the purchaser can terminate the contract for any reason within seven days after receiving the notice, provided that the municipality or county has filed a copy of the service plan with the county clerk before the contract was executed.

The bill clarifies that the new provisions apply only to contracts executed on or after its effective date, ensuring that any contracts signed before this date will be governed by the previous law. The act will take effect immediately if it receives a two-thirds majority vote from both houses of the legislature; otherwise, it will take effect on September 1, 2025.

Statutes affected:
Introduced: Property Code 5.0141 (Property Code 5)