Skip to main content

Texas Occupations Code - OCC § 1201.164. Advance Copy of Sales Purchase Contract and Disclosure Statements;  Offer by Retailer

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

(a) In a transaction that is to be financed and that will not be subject to the federal Real Estate Settlement Procedures Act of 1974 (Pub. L. No. 93-533) and its implementing regulations, a retailer shall deliver to a consumer at least 24 hours before the sales purchase contract is fully executed the contract, with all required information included, signed by the retailer.  The delivery of the contract, with all required information included, signed by the retailer constitutes a firm offer by the retailer.  Except as provided for by Subsection (b), the consumer may accept the offer not earlier than 24 hours after the delivery of the contract.  If the consumer has not accepted the offer within 72 hours after the delivery of the contract, the retailer may withdraw the offer.

(b) Before the execution of the sales purchase contract, the consumer may modify or waive the right to rescind and the deadlines for disclosures that are provided by Subsection (a) if the consumer determines that the purchase of the manufactured home is needed to meet a bona fide personal emergency.  If the consumer has a bona fide personal emergency that necessitates the immediate purchase of the manufactured home, the consumer shall give the retailer a dated written statement that describes the emergency, specifically modifies or waives the notice periods and any right of rescission, and bears the signature of all of the consumers entitled to the disclosures and right of rescission.  In such event the retailer shall immediately give the consumer all of the disclosures required by this code and sell the manufactured home without the required waiting periods or the right of rescission.  The department shall verify with the consumer the consumer's bona fide personal emergency before issuing the statement of ownership.

Cite this article: FindLaw.com - Texas Occupations Code - OCC § 1201.164. Advance Copy of Sales Purchase Contract and Disclosure Statements;  Offer by Retailer - last updated April 14, 2021 | https://codes.findlaw.com/tx/occupations-code/occ-sect-1201-164.html


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Thank you. Your response has been sent.

Copied to clipboard