Texas Laws - Property Code (pg. 25)
Sec. 5.204. Additional Compliance Requirement: Timely Acceptance Of Fees Paid Under Existing Private Transfer Fee Obligations.

pg. 25

Texas Laws | Property Code
PROPERTY CODE
TITLE 2. CONVEYANCES

(3) state the date or any circumstance under which the private transfer fee obligation expires, if any; ⁽⁸⁴³⁾

(4) state the purpose for which the money from the private transfer fee obligation will be used; ⁽⁸⁴⁴⁾

(5) notwithstanding Subsection (b), state the name of each payee and each payee's contact information; ⁽⁸⁴⁵⁾

(6) state the name and address of the payee of record to whom the payment of the fee must be sent; ⁽⁸⁴⁶⁾

(7) include the acknowledged signature of each payee or authorized representative of each payee; and ⁽⁸⁴⁷⁾

(8) state the legal description of the property subject to the private transfer fee obligation. ⁽⁸⁴⁸⁾

(d) A person required to file a notice under this section shall: ⁽⁸⁴⁹⁾

(1) refile the notice described by this section not earlier than the 30th day before the third anniversary of the original filing date described by Subsection (a) and within a similar 30-day period every third year thereafter; and ⁽⁸⁵⁰⁾

(2) amend the notice to reflect any change in the name or address of any payee included in the notice not later than the 30th day after the date the change occurs. ⁽⁸⁵¹⁾

(e) A person who amends a notice under Subsection (d)(2) must include: ⁽⁸⁵²⁾

(1) the recording information of the original notice filed as required by this section; and ⁽⁸⁵³⁾

(2) the legal description of the property subject to the private transfer fee obligation. ⁽⁸⁵⁴⁾

(f) If a person required to file a notice under this section fails to comply with this section: ⁽⁸⁵⁵⁾

(1) payment of the private transfer fee may not be a requirement for the conveyance of an interest in the property to a purchaser; ⁽⁸⁵⁶⁾

(2) the property is not subject to further obligation under the private transfer fee obligation; and ⁽⁸⁵⁷⁾

(3) the private transfer fee obligation is void. ⁽⁸⁵⁸⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁵⁹⁾

Sec. 5.204. ADDITIONAL COMPLIANCE REQUIREMENT: TIMELY ACCEPTANCE OF FEES PAID UNDER EXISTING PRIVATE TRANSFER FEE OBLIGATIONS. ⁽⁸⁶⁰⁾(Text)

(a) The payee of record on the date a private transfer fee is paid under a private transfer fee obligation subject to Section 5.203 must accept the payment on or before the 30th day after the date the payment is tendered to the payee. ⁽⁸⁶¹⁾

(b) If the payee of record fails to comply with Subsection (a): ⁽⁸⁶²⁾

(1) the payment must be returned to the remitter; ⁽⁸⁶³⁾

(2) payment of the private transfer fee may not be a requirement for the conveyance of an interest in the property to a purchaser; and ⁽⁸⁶⁴⁾

(3) the property is not subject to further obligation under the private transfer fee obligation. ⁽⁸⁶⁵⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁶⁶⁾

Sec. 5.205. DISCLOSURE OF EXISTING TRANSFER FEE OBLIGATION REQUIRED IN CONTRACT FOR SALE. ⁽⁸⁶⁷⁾(Text)

A seller of real property that may be subject to a private transfer fee obligation shall provide written notice to a potential purchaser stating that the obligation may be governed by this subchapter. ⁽⁸⁶⁸⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁶⁹⁾

Sec. 5.206. WAIVER VOID. ⁽⁸⁷⁰⁾(Text)

A provision that purports to waive a purchaser's rights under this subchapter is void. ⁽⁸⁷¹⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁷²⁾

Sec. 5.207. INJUNCTIVE OR DECLARATORY RELIEF; PROVIDING PENALTIES. ⁽⁸⁷³⁾(Text)

(a) The attorney general may institute an action for injunctive or declaratory relief to restrain a violation of this subchapter. ⁽⁸⁷⁴⁾

(b) In addition to instituting an action for injunctive or declaratory relief under Subsection (a), the attorney general may institute an action for civil penalties against a payee for a violation of this chapter. Except as provided by Subsection (c), a civil penalty assessed under this section may not exceed an amount equal to two times the amount of the private transfer fee charged or collected by the payee in violation of this subchapter. ⁽⁸⁷⁵⁾

(c) If the court in which an action under Subsection (b) is pending finds that a payee violated this subchapter with a frequency that constitutes a pattern or practice, the court may assess a civil penalty not to exceed $250,000. ⁽⁸⁷⁶⁾

(d) The comptroller shall deposit to the credit of the general revenue fund all money collected under this section. ⁽⁸⁷⁷⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁷⁸⁾

TITLE 3. PUBLIC RECORDS ⁽⁸⁷⁹⁾(Text)

CHAPTER 11. PROVISIONS GENERALLY APPLICABLE TO PUBLIC RECORDS ⁽⁸⁸⁰⁾(Text)

Sec. 11.001. PLACE OF RECORDING. ⁽⁸⁸¹⁾(Text)

(a) To be effectively recorded, an instrument relating to real property must be eligible for recording and must be recorded in the county in which a part of the property is located. However, if such an instrument grants a security interest by a utility as defined in Section 261.001, Business & Commerce Code, the instrument may be recorded as required by Sections 261.004 and 261.006 of that code, and if such instrument is so recorded, the lien and the secured interest created by such instrument shall be deemed perfected for all purposes. ⁽⁸⁸²⁾

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