A seller of residential property that is located in a public improvement district and that consists of not more than one dwelling unit must give the purchaser written notice that it will be obligated to pay assessments for an improvement project. Certain transactions are exempted. The notice must be given before the effective date of the executory contract. Notice may be given separately, as part of the contract, or as part of another notice and must be substantially similar to the prescribed form. If an executory contract is entered into without the notice having been given, the purchaser may, as its exclusive remedy, terminate the contract for any reason no later than the earlier of (1) the seventh day after the date the purchaser receives the notice or (2) the date the transfer occurs as provided by the executory contract. The requirement applies to an executory contract that is binding on a seller and purchaser on or after January 1, 2006. Tex. Prop. Code § 5.014.
Notice of Obligation to Pay Public Improvement District Assessment to [name of municipality or county levying assessment] Concerning the Property at [street address]
Seller[s]:
Purchaser[s]:
Real Property:
Date:
As a purchaser of this parcel of real property you are obligated to pay an assessment to a municipality or county for an improvement project undertaken by a public improvement district under chapter 372 of the Local Government Code. The assessment may be due annually or in periodic installments. More information concerning the amount of the assessment and the due dates of that assessment may be obtained from the municipality or county levying the assessment.
The amount of the assessments is subject to change. Your failure to pay the assessments could result in a lien on and the foreclosure of your property.
[Name of purchaser]