(a) The commission may adopt rules in the public’s best interest that require license holders to use contract forms prepared by the Texas Real Estate Broker-Lawyer Committee and adopted by the commission.
(b) The commission may not prohibit a license holder from using for the sale, exchange, option, or lease of an interest in real property a contract form that is:
(1) prepared by the property owner; or
(2) prepared by an attorney and required by the property owner.

Terms Used In Texas Occupations Code 1101.155

  • Contract: A legal written agreement that becomes binding when signed.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Property: means real and personal property. See Texas Government Code 311.005
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(c) A listing contract form adopted by the commission that relates to the contractual obligations between a seller of real estate and a license holder acting as an agent for the seller must include:
(1) a provision informing the parties to the contract that real estate commissions are negotiable; and
(2) a provision explaining the availability of Texas coastal natural hazards information important to coastal residents, if that information is appropriate.

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