What does Section 5.008 of the Texas Property Code state about properties valued over a certain threshold?

Section 5.008 of the Texas Property Code pertains to the disclosure requirements for sellers of residential property. It mandates that sellers provide buyers with a written notice detailing the condition of the property when its value exceeds a specified threshold. This threshold is set to ensure transparency in real estate transactions and to protect buyers.

The correct choice relates to the provision that states if the dwelling is valued at less than 5% of the total property value, a written notice is not required. This clause is designed to alleviate the burden on sellers who may have a property with minor or negligible deficiencies that do not significantly impact the overall value or safety of the premises.

In this context, the other options do not accurately reflect the legislative intent behind Section 5.008. The requirement for written notices applies above the 5% threshold, and verbal disclosures or notices about significant defects are still overseen by separate directives that ensure consumers are adequately informed. Therefore, understanding this threshold is critical in navigating the requirements for property disclosures in Texas real estate transactions.