Texas Real Estate Contracts, 3e
by Michelle Evans and Johnnie Rosenauer
Copyright 2008 | Cengage Learning
ISBN: 0324653301
October 2008 UPDATE
NOTE: The changes herein reflect the promulgation of five new forms effective December 30, 2007 and ten new forms effective September 1, 2008. One form 44-0 is pending approval through the Texas Real Estate Commission as of this update. This update replaces the February 2008 Update.
Table of Contents, page xiv, add “14-18A” after “14-18”.
Table of Contents, page xiv, add “14-18B” after “14-18A”.
Table of Contents, page xiv, Figure 15-1, replace “20-7” with “20-8”.
Page 18, first paragraph, line 4, change “11-5” to “11-6”.
Page 20, last paragraph, line 8, change “10-4” to “10-5”.
Page 57, last paragraph, line 6, change “25-5” to “25-6”.
Page 58, first paragraph, line 11, change “20-7” to “20-8”.
Page 58, second paragraph, line 7, change “30-6” to “30-7”.
Page 140, last paragraph, change “20-7” to “20-8”, “9-6” to “9-7”, “23-6” to “23-7”, “24-6” to “24-7”, “25-5” to “25-6” and “30-6” to “30-7”.
Page 141, second title, change “Addendum for Property Subject to Mandatory Membership in an Owner’s Association (TREC 36-4)” to “Addendum for Property Subject to Mandatory Membership in a Property Owner’s Association (TREC 36-5)”.
Page 144, delete Figure 14-3, go to for replacement form.
Page 145, first title, change “28-0” to “28-1”.
Page 145, first full paragraph, line 7, delete “If buyer fails to provide the seller with the report within the specified time frame and give notice of termination, the buyer will be deemed to have accepted the property. Because of this “deemed acceptance”, it is recommended that any notice of termination and report sent by fax include a return receipt to confirm receipt.”
Page 145, second title, change “10-4” to “10-5”.
Page 146, delete Figure 14-4, go to for replacement form.
Page 147, delete Figure 14-5, go to for replacement form.
Page 148, first paragraph, line 5, delete “If the buyer fails to obtain loan or assumption approval for any other reason, the provisions of the contract will control. In which case the sales contract would terminate and the buyer could seek his or her earnest money back.”
Page 153, first title, change “11-5” to “11-6”.
Page 153, second title, delete title and replace with “Addendum for Release of Liability on Assumed Loan and/or Restoration of Seller’s VA Entitlement”
Page 153, second title, change “12-1” to “12-2”.
Page 154, delete Figure 14-8, go to for replacement form.
Page 155, delete Figure 14-9, go to for replacement form.
Page 156, first title, change “40-2” to “40-3”
Page 156, second title, change “32-0” to “32-2”.
Page 156, third title, change “33-0” to “33-1”.
Page 157, delete Figure 14-10, go to for replacement form.
Page 160, delete Figure 14-12, go to for replacement form.
Page 161, delete Figure 14-13, go to for replacement form.
Page 162, first title, change “34-1” to “34-3”.
Page 162, second title, change “Subdivision Information, Including Resale Certificate for Property Subject to Mandatory Membership in an Owner’s Association (TREC 37-2)” to “Subdivision Information, Including Resale Certificate for Property Subject to Mandatory Membership in a Property Owner’s Association (TREC 37-3)”.
Page 163, delete Figure 14-14, go to for replacement form.
Page 165, delete Figure 14-15, go to for replacement form.
Page 167, first title, change “Notice of Termination of Contract (38-1)” to “Notice of Buyer’s Termination of Contract (TREC 38-2)”.
Page 167, first paragraph, line 2 replace “under his or her unrestricted right to terminate.” with “for a specific reason indicated on the form.”
Page 167, third title, change “41-0” to “41-1”.
Page 167, fifth paragraph, line 3, replace “$350” with “$500”.
Page 168, delete Figure 14-16, go to for replacement form.
Page 170, delete Figure 14-18, go to for replacement form.
Page 171, second paragraph, lines 7 and 9, replace “Release of Liability Addendum” with “Addendum for Release of Liability on Assumed Loan and /or Restoration of Seller’s VA Entitlement (See Appendix Form TREC 12-2)”
Page 171, after the second paragraph but before “Other Mandatory Forms” insert
Addendum Containing Required Notices Under 5.016, §420.001 and §420.002, Texas Property Code (TREC 43-0)
This addendum is used anytime the buyer is having a new house built. It provides notice to the buyer that the contractor must be registered with the Texas Residential Construction Commission. Go to for form 43-0 (Figure 14-18A)
Page 171, after the section entitled “Addendum Containing Required Notices Under 5.016, §420.001 and §420.002, Texas Property Code (TREC 43-0) insert
Addendum for Reservation of Oil, Gas, and Other Minerals (TREC 44-0)(Pending approval as of this update. Consult to follow the approval status of this form)
This addendum is used anytime the seller of the property is interested in reserving oil, gas or other mineral interests in the property. If no reservation is made, the buyer takes 100% of the subsurface interest.Go to for form 44-0 (Figure 14-18B)
Page 175, third paragraph, fifth line, replace “20-7” with “20-8”.
Pages 176-183 delete Figure 15-1, go to for replacement form.
Page 184, delete Figure 15-2, go to for replacement paragraph.
Page 185, delete Figure 15-3, go to for replacement paragraph.
Page 187, delete Figure 15-6, go to for replacement paragraph.
Page 189, delete Figure 15-9, go to for replacement paragraph.
Page 190, second paragraph, line 2, delete “an owner’s association” and replace with “a property owner’s association”.
Page 190, delete Figure 15-10, go to for replacement paragraph.
Page 190, delete Figure 15-12, go to for replacement paragraph.
Page 193, delete Figure 15-18, go to for replacement paragraph.
Page 195, third paragraph, delete “Paragraph 9C notifies the buyer that the seller can continue to show the property and accept backup offers. Paragraph 9D provides that all covenants, representations, and warranties in the contract survive closing.”
Page 195, delete Figure 15-20, go to for replacement paragraph.
Page 197, delete Figure 15-23, go to for replacement paragraph.
Page 200, first paragraph, line 1, delete “the prevailing party” and replace with “a prevailing party”.
Page 200, delete Figure 15-30, go to for replacement paragraph.
Page 200, delete Figure 15-31, go to for replacement paragraph.
Page 201, second paragraph, line 3, after “earnest money” insert “, earnest money, reasonable attorney’s fees, and all costs of suit.”
Page 201, delete Figure 15-32, go to for replacement paragraph.
Page 202, delete Figure 15-35, go to for replacement paragraph.
Page 203, delete Figure 15-36, go to for replacement paragraph.
Page 230, delete Example 20-7 and replace with form 20-8 from
Page 238, delete Example 9-6 and replace with form 9-7 from
Page 246, delete Example 25-5 and replace with form 25-6 from
Page 255, delete Example 23-6 and replace with form 23-7 from
Page 264, delete Example 24-6 and replace with form 24-7 from
Page 273, delete Example 30-6 and replace with form 30-7 from
Page 282, delete Example 10-4 and replace with form 10-5 from
Page 283, delete Example 11-4 and replace with form 11-6 from
Page 284, delete Example 12-1 and replace with form 12-2 from
Page 289, delete Example 28-0 and replace with form 28-1 from
Page 290, delete Example 32-0 and replace with form 32-2 from
Page 291, delete Example 33-0 and replace with form 33-1 from
Page 292, delete Example 34-2 and replace with form 34-3 from
Page 293, delete Example 36-4 and replace with form 36-5 from
Page 294, delete Example 37-2 and replace with form 37-3 from
Page 296, delete Example 38-1 and replace with form 38-2 from
Page 298, delete Example 40-2 and replace with form 40-3 from
Page 300, delete Example 41-0 and replace with form 41-1 from
After page 303, insert form 43-0 from
After form 43-0, insert form 44-0 (pending approval) from
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