A seller of residential or commercial property adjoining an impoundment of water, including a reservoir or lake, constructed and maintained under chapter 11 of the Texas Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment’s normal operating level, must give the purchaser written notice in substantially the form prescribed by statute and as set forth below. The notice must be given on or before the effective date of the executory contract. If a contract is entered into without the seller giving the notice, the purchaser may terminate the contract for any reason within seven days after the purchaser receives the notice from the seller or a third party. After the date of the conveyance, the purchaser may bring an action for misrepresentation against the seller if the seller failed to give the notice prior to closing and had actual knowledge that the water level described in the statute fluctuates for various reasons, including the two reasons set out in the notice. The requirement applies to an executory contract entered into on or after September 1, 2015. Tex. Prop. Code § 5.019.
Notice of Water Level Fluctuations
Seller[s]:
Purchaser[s]:
Property: [street address and city or legal description]
The water level of the impoundment of water adjoining the Property fluctuates for various reasons, including as a result of
(1)an entity lawfully exercising its right to use the water stored in the impoundment, or
(2)drought or flood conditions.
[Name of purchaser[s]]