Added by Acts 2001 77th Leg ch 1421 Sec 2 eff June 1 2003 Sec 1101803 GENERAL

Added by acts 2001 77th leg ch 1421 sec 2 eff june 1

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Public Health Service. (Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.) Sec. 1101.803. GENERAL LIABILITY OF BROKER . A licensed broker is liable to the com- mission, the public, and the broker’s clients for any conduct engaged in under this chapter by the broker or by a sales agent associated with or acting for the broker. (Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by: Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 89, eff. January 1, 2016.) Sec. 1101.804. LIABILITY FOR PROVIDING CERTAIN INFORMATION . A license holder or nonprofit real estate board or association that provides information about real property sales prices or the terms of a sale for the purpose of facilitating the listing, selling, leasing, financing, or appraisal of real property is not liable to another person for providing that information unless the disclosure of that information is specifically prohibited by statute. (Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.) Sec. 1101.805. LIABILITY FOR MISREPRESENTATION OR CONCEALMENT . (a) In this section, “party” has the meaning assigned by Section 1101.551.
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Copyright © 2017 Champions School of Real Estate ® 190 Chapter 7 Texas Real Estate License Act (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 misrepresen- tation or concealment. (Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by: Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 90, eff. January 1, 2016.) Sec. 1101.806. LIABILITY FOR PAYMENT OF COMPENSATION OR COMMISSION . (a) This section does not: (1) apply to an agreement to share compensation among license holders; or (2) limit a cause of action among brokers for interference with business relationships. (b) A person may not maintain an action to collect compensation for an act as a broker or sales agent that is performed in this state unless the person alleges and proves that the person was: (1) a license holder at the time the act was commenced; or (2) an attorney licensed in any state.
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