H.B. No. 2468 amends Section 5.0141(b) of the Property Code to enhance the rights of purchasers in real estate transactions involving properties located in public improvement districts. The bill stipulates that if a seller fails to provide the required notice regarding the property's location in such a district, the purchaser has the right to terminate the contract for any reason within seven days of receiving the notice. Additionally, this termination right is contingent upon the municipality or county having filed a copy of the service plan with the county clerk prior to the execution of the contract.

The bill specifies that the amended provisions will only apply to sales or conveyances of property for which a binding contract is executed on or after the effective date of the Act. Contracts executed before this date will continue to be governed by the previous law. The Act is set to take effect immediately upon receiving a two-thirds vote from both houses of the legislature, or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Property Code 5.0141 (Property Code 5)
House Committee Report: Property Code 5.0141 (Property Code 5)
Engrossed: Property Code 5.0141 (Property Code 5)
Senate Committee Report: Property Code 5.0141 (Property Code 5)
Enrolled: Property Code 5.0141 (Property Code 5)