Section 1101.0045 - Equitable Interests In Real Property(a) A person may acquire an option or an interest in a contract to purchase real property and then sell or offer to sell the option or assign or offer to assign the contract without holding a license issued under this chapter if the person: (1) does not use the option or contract to purchase to engage in real estate brokerage; and (2) discloses in writing the nature of the equitable interest to any seller or potential buyer. (b) A person selling or offering to sell an option or assigning or offering to assign an interest in a contract to purchase real property without disclosing the nature of that interest as provided by Subsection (a)(2) is engaging in real estate brokerage. Tex. Occ. Code § 1101.0045
Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 94,Sec. 4, eff. 1/1/2024.Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 974,Sec. 1, eff. 9/1/2017.