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Starting July 1, the TREC contract forms include new language regarding water rights. TREC's new Water Rights Disclosure (Form 61-0) requires Sellers to disclose what they know about the groundwater and surface water rights affecting the Property. A new Paragraph 7(I) in the Contract (7.K in the Farm and Ranch Contract) triggers the Seller’s Water Disclosure. For escrow officers, that means a new document to account for, new questions from buyers and sellers, and new ways a transaction can stall or be terminated if the paperwork is not right.
In this session, Roland Love walks escrow officers through what changed and what it means once the file reaches their desk: what the Water Notice asks, how groundwater conservation districts, water wells, and surface water features show up in a transaction, and where the disclosure intersects with their role at closing. Attendees will leave knowing what to look for, what to confirm, and how to keep a water rights question from turning into a closing delay.
Key takeaways include:
- How TREC's new Water Notice (Form 61-0) works and what sellers are now required to disclose about groundwater and surface water rights.
- What new Paragraph 7(I) adds to the residential contract and how it affects the closing file.
- When a groundwater conservation district, a water well, or a surface water feature should prompt a closer look before closing.
- The escrow officer's role in confirming the water disclosure is complete and handled correctly.
- Practical ways to answer water rights questions at the closing table and avoid last-minute delays.
Presenter:
Roland Love, CTIP, Board Certified in Real Estate Law, Texas Board of Legal Specialization;
Independence Title Company
Pricing:
Member: $45
Nonmember: $65
CE Credit:
1.0 Hour Escrow Credit (pending approval)
Beginner level – Designed for those new to the topic and/or the title industry. May include basic concepts, definitions, and foundational industry practices.
Per Procedural Rule P-28 II I-6, TDI will not award CE credit for completing the same course more than once during a reporting period.
The information in this course is provided by TLTA for educational and reference purposes only and should not be considered legal, financial, or business advice. Users should consult their own legal counsel and subject-matter experts to ensure that any policies adopted or actions taken meet the requirements unique to their company.
Legal information provides public information, such as rules or laws, or an explanation of those laws. It is not legal advice. Legal advice recommends a specific course of action or interprets the law based on particular facts. For legal advice, please consult your attorney.