Sections
7 entriesSection 1675Limits residential real-property liquidated damages generally by a 3% purchase-price threshold: amounts at or below 3% are presumptively valid, while larger amounts…Section 1676Allows a real-property purchase contract to liquidate the seller’s damages if the buyer fails to complete the purchase, except as provided by…Section 1677Requires a real-property purchase contract’s seller liquidated-damages clause to be separately signed or initialed by every party. If printed, the clause must…Section 1678Limits later buyer payments designated as liquidated damages to situations where the total of all such payments satisfies the governing statutory amount…Section 1679Limits the chapter to liquidated-damages provisions benefiting the seller when a buyer fails to complete a real-property purchase. Other liquidated-damages clauses in…Section 1680Establishes that the liquidated-damages chapter does not affect any right a party to a real-property purchase and sale contract may otherwise have…Section 1681Exempts real-property sales contracts defined by the specified statutory provision from the liquidated-damages chapter. Contracts falling within that separate definition therefore are…