Addendum

TXR 1955 — Addendum Containing Notice of Obligation to Pay Improvement District Assessment

This addendum serves as a mandatory disclosure to the buyer that the property is located within a Public Improvement District (PID) and is subject to an assessment for the costs of public improvements or services. It identifies the levying municipality or county, the specific improvement district, t

Source: TXR
Form Number: 1955
Category: Addendum
Revised: November 8, 2021

Used For

Residential Sales, Commercial Sales, Vacant Land

Form Outline

The TXR 1955 form is organized into the following sections:

  1. Property and Municipality Identification
    Identifies the municipality or county levying the assessment and the specific property address subject to the PID assessment.
  2. Assessment Obligation Notice
    Notifies the buyer that an assessment has been levied against the property for public improvements within a PID. The assessment may be paid in full at any time, or will be due in variable annual installments. Identifies the specific PID and the governing statute.
  3. Assessment Amount and Contact Information
    Directs the buyer to the municipality or county to obtain the exact assessment amount and annual installment details. The installment amounts are approved annually by the city council or county commissioners court through the annual service plan update.
  4. Failure to Pay Warning
    Warns the buyer that failure to pay PID assessments can result in penalties, interest, a lien on the property, and foreclosure.
  5. Seller Signatures
    Seller signature lines acknowledging disclosure of the PID assessment obligation.
  6. Buyer Acknowledgment and Signatures
    Buyer acknowledges receipt of the PID notice prior to entering into a binding contract and signs with a date.

How RaiderX Agents Use This Form

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