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Texas Statutes (Last Updated: January 4, 2014) |
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OCCUPATIONS CODE |
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Title 7. PRACTICES AND PROFESSIONS RELATED TO REAL PROPERTY AND HOUSING |
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Subtitle A. PROFESSIONS RELATED TO REAL ESTATE |
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Chapter 1101. REAL ESTATE BROKERS AND SALESPERSONS |
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Subchapter Q. GENERAL PROVISIONS RELATING TO LIABILITY ISSUES |
Sec. 1101.805. LIABILITY FOR MISREPRESENTATION OR CONCEALMENT
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(a) In this section, "party" has the meaning assigned by Section 1101.551.
(b) This section prevails over any other law, including common law.
(c) This section does not diminish a broker's responsibility for the acts or omissions of a salesperson associated with or acting for the broker.
(d) A party is not liable for a misrepresentation or a concealment of a material fact made by a license holder in a real estate transaction unless the party:
(1) knew of the falsity of the misrepresentation or concealment; and
(2) failed to disclose the party's knowledge of the falsity of the misrepresentation or concealment.
(e) A license holder is not liable for a misrepresentation or a concealment of a material fact made by a party to a real estate transaction unless the license holder:
(1) knew of the falsity of the misrepresentation or concealment; and
(2) failed to disclose the license holder's knowledge of the falsity of the misrepresentation or concealment.
(f) A party or a license holder is not liable for a misrepresentation or a concealment of a material fact made by a subagent in a real estate transaction unless the party or license holder:
(1) knew of the falsity of the misrepresentation or concealment; and
(2) failed to disclose the party's or license holder's knowledge of the falsity of the misrepresentation or concealment.