Sec. 1101.805. LIABILITY FOR MISREPRESENTATION OR CONCEALMENT. (a) In this section, "party" has the meaning assigned by Section 1101.551.
(b) This section prevails over any other law, including common law.
(c) This section does not diminish a broker's responsibility for the acts or omissions of a sales agent associated with or acting for the broker.
(d) A party is not liable for a misrepresentation or a concealment of a material fact made by a license holder in a real estate transaction unless the party:
(1) knew of the falsity of the misrepresentation or concealment; and
(2) failed to disclose the party's knowledge of the falsity of the misrepresentation or concealment.
(e) A license holder is not liable for a misrepresentation or a concealment of a material fact made by a party to a real estate transaction unless the license holder:
(1) knew of the falsity of the misrepresentation or concealment; and
(2) failed to disclose the license holder's knowledge of the falsity of the misrepresentation or concealment.
(f) A party or a license holder is not liable for a misrepresentation or a concealment of a material fact made by a subagent in a real estate transaction unless the party or license holder:
(1) knew of the falsity of the misrepresentation or concealment; and
(2) failed to disclose the party's or license holder's knowledge of the falsity of the misrepresentation or concealment.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 90, eff. January 1, 2016.
Section: Previous 1101.710 1101.751 1101.752 1101.753 1101.754 1101.755 1101.756 1101.757 1101.758 1101.759 1101.801 1101.802 1101.803 1101.804 1101.805Last modified: September 28, 2016