The bill, S.B. No. 22, introduces new regulations regarding contracts for the purchase of residential real property located in a "colonia," defined as an economically distressed area near the international border with specific housing density. It mandates that if a purchaser requests, a copy of the executory contract must be provided in Spanish, and this translation must be done by a certified Spanish translator. However, the executed contract and any binding documents between the seller and purchaser must still be written in English. The bill clarifies that these provisions do not apply to contracts for properties not located in a colonia.

Additionally, the bill specifies that the changes will only apply to contracts entered into on or after its effective date, with existing contracts governed by the previous law. The act is set to take effect 91 days after the conclusion of the legislative session.

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