1. (a) For purposes of §1101.652(a)(3) of the Act "a person related to the license holder within the first degree by consanguinity" means a license holder's parent or child.
2. (b) A licensee, when engaging in a real estate transaction on his or her own behalf, on behalf of a business entity in which the licensee is more than a 10% owner, or on behalf of the licensee's spouse, parent, or child, is obligated to disclose in writing to any person with whom the licensee deals that he or she is a licensed real estate broker or salesperson acting on his or her own behalf or on behalf of the licensee's spouse, parent or child in any contract of sale or rental agreement or in any other writing given prior to entering into any contract of sale or rental agreement. A licensee shall not use the licensee's expertise to the disadvantage of a person with whom the licensee deals.

Source Note:The provisions of this §535.144 adopted to be effective January 1, 1976; amended to be effective March 22, 1978, 3 TexReg 823; amended to be effective August 6, 1980, 5 TexReg 2923; amended to be effective October 20, 1983, 8 TexReg 3998; amended to be effective May 27, 1998, 23 TexReg 5437; amended to be effective October 1, 2000, 25 TexReg 8646; amended to be effective May 24, 2006, 31 TexReg 4198; amended to be effective January 1, 2011, 35 TexReg 11691.