Real Property - Termination of Residential Real Estate Contracts - Contingency Clauses
Referred Judicial Proceedings (Senate)
Summary
The bill redefines what counts as a contingency clause in residential real‑estate contracts and sets a faster timeline for returning a buyer’s escrow (trust) money when a contract is terminated. Sellers must provide proof of a court complaint or mediation request within 10 days, and if they do not, the escrow holder must return the funds within five days after that period. The changes aim to give purchasers quicker access to their money and clarify contract termination rights.
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Ask about HB 1029
3 free questions a day, no accountHearings
- Economic Matters — Bill HearingEconomic Matters · Mar 5, 2026
History
- Referred Judicial Proceedings
- Third Reading Passed
- Favorable Report by Economic Matters
- Favorable Adopted Second Reading Passed
- Hearing canceled
- Hearing 3/05 at 1:30 p.m.
- Hearing 3/05 at 1:00 p.m.
- First Reading Economic Matters
Sponsors
- Roberts · sponsor
- A. Johnson
- Griffith
- Harrison
- Patterson
- Taylor
- Toles
- Turner
- White Holland
- Wims
- Woods
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