How your forms are changing January 1
12/09/2015 | Author: Editorial Staff
The Texas Association of REALTORS® and Texas Real Estate Commission revised several forms with changes that take effect January 1. The new versions will be mandatory on that date, but you’re free to use them now. All revised forms are on the Blank Forms page on texasrealestate.com, and will be available in zipForm no later than January 1.
Why the changes?
Most of the revisions were made in November by the Texas Real Estate Commission. The December 2015 issue of Texas REALTOR® magazine includes an article that explains those changes and a one-page PDF you can download as a reference.
The Texas Association of REALTORS® updated its forms to be consistent with the TREC changes. TAR also revised property management and leasing forms due to a new law regarding security devices.
TREC also updated its Information About Brokerage Services form and Consumer Protection Notice, but they have a February 1 effective date. Both forms are on the Blank Forms page on texasrealestate.com and will be available in zipForm by their effective date.
Which TAR forms are changing?
You can view redline versions of revised TAR forms and view summaries of the changes on the Adopted Form Revisions page on texasrealestate.com. Here’s the list of revised TAR forms:
- Seller’s Disclosure Notice (TAR 1406)
- Residential Listing Checklist (TAR 1415)
- General Information and Notice to a Buyer (TAR 1506)
- New Residential Condominium Contract (Completed Construction) (TAR 1608)
- New Residential Condominium Contract (Incomplete Construction) (TAR 1609)
- Buyer’s Walk-Through and Acceptance Form (TAR 1925)
- Seller’s Estimated Net Proceeds (TAR 1935)
- Approximation of Buyer’s Closing Costs (TAR 1936)
- Relocation Addendum (TAR 1941)
- Notice of Tenant’s Intent to Vacate (TAR 2218)
- Residential Lease (TAR 2001)
- Extension of Residential Lease (TAR 2005)
- Residential Lease for a Multi-Family Property Unit (TAR 2011)
- Itemization of Security Deposit (TAR 2216)
- Commercial Contract-Improved Property (TAR 1801)
- Commercial Contract-Unimproved Property (TAR 1802)
- Condominium Addendum to Commercial Contract (TAR 1930)
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.