Under the TREC Addendum for Coastal Area Property, the buyer is advised about the potential impact of the Texas Open Beaches Act. This law primarily affects:
Correct Answer
D) Properties on or near Gulf-front beaches where public access may affect the owner's rights
The Texas Open Beaches Act primarily affects properties on or near Gulf-front beaches. The act guarantees public access to beaches and may affect property rights if natural changes to the beach encroach on private property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
Consideration is something of value exchanged between parties to a contract, making the agreement legally binding. It can be money, a promise to act, a promise to refrain from acting, or anything else of value.
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
More Promulgated Contract Forms Questions
In Texas, title insurance rates are:
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Under the TREC contract, a TREC Amendment is effective when:
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