The Texas Real Estate Commission (TREC) adopts amendments to 22 TAC §537.43, Standard Contract Form TREC No. 36-7, Addendum for Property Subject to Mandatory Membership in a Property Owners' Association, without changes to the text as published in the May 16, 2014, issue of the Texas Register (39 TexReg 3804). The proposed amendments to §537.51, Standard Contract Form TREC No. 44-1, Addendum for Reservation of Oil, Gas and Other Minerals, and new §537.53. Standard Contract Form TREC No. 46-0, Mutual Termination of Contract published in the May 16, 2014, issue of the Texas Register (39 TexReg 3804) were not adopted by the TREC, based on recommendations from the Broker Lawyer Committee.

Texas real estate licensees are generally required to use forms promulgated by TREC when negotiating contacts for the sale of real property. These forms are drafted and recommended for adoption by the Texas Real Estate Broker-Lawyer Committee, an advisory body consisting of six attorneys appointed by the President of the State Bar of Texas, six brokers appointed by TREC, and one public member appointed by the governor.

The amendments adopt by reference a revised addendum for use by Texas real estate license holders.

The amendment to the Addendum for Property Subject to Mandatory Membership in a Property Owners' Association adds a reference to Paragraph E in the addendum to Paragraph C of the addendum.

The reasoned justification for the rule and revised addendum is to clarify the Buyer is not automatically required to pay the cost for a resale certificate requested by a title company, which is governed by the election made in Paragraph E.

No comments were received on this proposal.

The amendments are adopted under Texas Occupations Code, §1101.151, which authorizes the Texas Real Estate Commission to adopt and enforce rules necessary to administer Chapters 1101 and 1102; and to establish standards of conduct and ethics for its licensees to fulfill the purposes of Chapters 1101 and 1102 and ensure compliance with Chapters 1101 and 1102.

The statutes affected by this adoption are Texas Occupations Code, Chapter 1101 and 1102. No other statute, code or article is affected by the adoption.