Texas SB2764 requires disclosure in sales contracts for manufactured homes about the option to classify the home as real or personal property.

Texas SB2764 amends the Occupations Code to mandate that sales purchase contracts for manufactured homes include a disclosure about the purchaser's ability to elect to treat the home as real property or personal property. This disclosure must explain the conditions for making such an election, the effects of treating the home as real property, the requirement to make the election on the application for a statement of ownership, and the possibility of converting the home from personal property to real property or vice versa.

Texas SB2764 requires disclosure in sales contracts for manufactured homes about the option to classify the home as real or personal property.

Texas SB2764 amends the Occupations Code to mandate that sales purchase contracts for manufactured homes include a disclosure about the purchaser's ability to elect to treat the home as real property or personal property. This disclosure must explain the conditions for making such an election, the effects of treating the home as real property, the requirement to make the election on the application for a statement of ownership, and the possibility of converting the home from personal property to real property or vice versa.