Current as of April 14, 2021 | Updated by FindLaw Staff
(a) A person may acquire an option or an interest in a contract to purchase real property and then sell or offer to sell the option or assign or offer to assign the contract without holding a license issued under this chapter if the person:
(1) does not use the option or contract to purchase to engage in real estate brokerage; and
(2) discloses the nature of the equitable interest to any potential buyer.
(b) A person selling or offering to sell an option or assigning or offering to assign an interest in a contract to purchase real property without disclosing the nature of that interest to a potential buyer is engaging in real estate brokerage.
Cite this article: FindLaw.com - Texas Occupations Code - OCC § 1101.0045. Equitable Interests in Real Property - last updated April 14, 2021 | https://codes.findlaw.com/tx/occupations-code/occ-sect-1101-0045.html
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