Texas § PR.5.071 - SELLER'S DISCLOSURE OF FINANCING TERMS
Full text of Texas The Texas Constitution § PR.5.071 — SELLER'S DISCLOSURE OF FINANCING TERMS, with citation guidance and answers to common questions.
§ PR.5.071. SELLER'S DISCLOSURE OF FINANCING TERMS
SELLER'S DISCLOSURE OF FINANCING TERMS. Before an executory contract is signed by the purchaser, the seller shall provide to the purchaser a written statement that specifies: (1) the purchase price of the property; (2) the interest rate charged under the contract; (3) the dollar amount, or an estimate of the dollar amount if the interest rate is variable, of the interest charged for the term of the contract; (4) the total amount of principal and interest to be paid under the contract; (5) the late charge, if any, that may be assessed under the contract; and (6) the fact that the seller may not charge a prepayment penalty or any similar fee if the purchaser elects to pay the entire amount due under the contract before the scheduled payment date under the contract. Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. Sept. 1, 1995. Renumbered from Property Code Sec. 5.095 and amended by Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. Sept. 1, 2001.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § PR.5.071
What does The Texas Constitution § PR.5.071 cover?
Section PR.5.071 ("SELLER'S DISCLOSURE OF FINANCING TERMS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § PR.5.071?
A common citation format is "The Texas Constitution § PR.5.071" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § PR.5.071 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.