Texas Occupations Code 1201.511 – Prohibited Real Estate Transaction
Current as of: 2024 | Check for updates
|
Other versions
(a) This section applies to a transaction in which a manufactured home is sold as personal property.
(b) A retailer may not sell, represent for sale, or offer for sale real property in conjunction with the sale of a manufactured home except as authorized by the department consistent with Chapter 1101.
Terms Used In Texas Occupations Code 1201.511
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Personal property: All property that is not real property.
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(c) A retailer, broker, or salesperson or a person acting on behalf of a retailer or broker may not receive or accept compensation or consideration of any kind from the seller of the real property or a person acting on the seller’s behalf. No part of the down payment on the purchase of the manufactured home or any fees, points, or other charges or “buy-downs” may be paid from money from the seller of the real property or a person acting on the seller’s behalf.