The bill, S.B. No. 26, introduces new requirements for contracts related to the purchase of residential real property located in a "colonia," which is defined as an economically distressed area near the international border with specific characteristics. Under the new Section 5.088 of the Property Code, 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 must still be written in English. The bill clarifies that these provisions do not apply to contracts for properties not located in a colonia.

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

Statutes affected:
Introduced: ()