Current as of April 14, 2021 | Updated by FindLaw Staff
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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 sales agent 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.
Cite this article: FindLaw.com - Texas Occupations Code - OCC § 1101.805. Liability for Misrepresentation or Concealment - last updated April 14, 2021 | https://codes.findlaw.com/tx/occupations-code/occ-sect-1101-805.html
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