HB2468

HB2468 changes a buyer’s statutory right to cancel a real-estate contract when the seller did not provide the required public improvement district notice before signing. These notices explain obligations to pay district assessments for public improvements or services. Under the amended rule, the buyer may cancel for any reason, no later than the seventh day after receiving the notice, but may use this particular cancellation right only if the municipality or county filed the district service plan with the county clerk before the contract date as required by the referenced law. Final law, Section 1; notice contents and scope.

The previous version simply said the purchaser was entitled to terminate when the contract was signed without the notice. HB2468 adds the express seven-day limit measured from receipt of the notice, not from signing, and the pre-contract service-plan filing condition. It does not remove the seller’s underlying pre-contract notice duty or cancel the district assessment itself. Nor does this subsection replace other rights that may arise from a contract or other applicable law. Final law; full pre-contract notice provision.

Closing still matters. The unchanged surrounding law says that if the seller supplies the notice at or before closing and the buyer elects to close, the buyer is conclusively treated as waiving this termination right and the specified statutory damages remedies, despite the earlier late notice. Separate provisions govern damages and liability protections; HB2468 does not create a fresh seven-day right to undo a completed closing regardless of those rules. Full notice and waiver provision; statutory damages provisions.

The service plan describes projected improvement costs and annual debt and includes the notice form. The incorporated law requires filing within seven days after plan approval and after amendments or updates. That governmental filing deadline is distinct from the buyer’s new seven-day period after receiving notice. Service-plan filing rule.

The act applies only when a binding contract is executed on or after June 20, 2025, its immediate effective date. Earlier contracts remain governed by the law in effect when executed; a later closing date alone does not put an older contract under the new rule. Final law, Sections 2–3; official history.