Texas Laws - Property Code (pg. 25)
Sec. 5.203. Notice Requirements For Continuation Of Existing Private Transfer Fee Obligations.

pg. 25

Texas Laws | Property Code
PROPERTY CODE
TITLE 2. CONVEYANCES

Amended by: ⁽⁸⁴⁶⁾

Acts 2017, 85th Leg., R.S., Ch. 812 (H.B. 755), Sec. 1, eff. September 1, 2017. ⁽⁸⁴⁷⁾

Sec. 5.203. NOTICE REQUIREMENTS FOR CONTINUATION OF EXISTING PRIVATE TRANSFER FEE OBLIGATIONS. ⁽⁸⁴⁸⁾(Text)

(a) A person who receives a private transfer fee under a private transfer fee obligation created before the effective date of this subchapter must, on or before January 31, 2012, file for record a "Notice of Private Transfer Fee Obligation" as provided by this section in the real property records of each county in which the property is located. ⁽⁸⁴⁹⁾

(b) Multiple payees of a single private transfer fee under a private transfer fee obligation must designate one payee as the payee of record for the fee. ⁽⁸⁵⁰⁾

(c) A notice under Subsection (a) must: ⁽⁸⁵¹⁾

(1) be printed in at least 14-point boldface type; ⁽⁸⁵²⁾

(2) state the amount of the private transfer fee and the method of determination, if applicable; ⁽⁸⁵³⁾

(3) state the date or any circumstance under which the private transfer fee obligation expires, if any; ⁽⁸⁵⁴⁾

(4) state the purpose for which the money from the private transfer fee obligation will be used; ⁽⁸⁵⁵⁾

(5) notwithstanding Subsection (b), state the name of each payee and each payee's contact information; ⁽⁸⁵⁶⁾

(6) state the name and address of the payee of record to whom the payment of the fee must be sent; ⁽⁸⁵⁷⁾

(7) include the acknowledged signature of each payee or authorized representative of each payee; and ⁽⁸⁵⁸⁾

(8) state the legal description of the property subject to the private transfer fee obligation. ⁽⁸⁵⁹⁾

(d) A person required to file a notice under this section shall: ⁽⁸⁶⁰⁾

(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 ⁽⁸⁶¹⁾

(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. ⁽⁸⁶²⁾

(e) A person who amends a notice under Subsection (d)(2) must include: ⁽⁸⁶³⁾

(1) the recording information of the original notice filed as required by this section; and ⁽⁸⁶⁴⁾

(2) the legal description of the property subject to the private transfer fee obligation. ⁽⁸⁶⁵⁾

(f) If a person required to file a notice under this section fails to comply with this section: ⁽⁸⁶⁶⁾

(1) payment of the private transfer fee may not be a requirement for the conveyance of an interest in the property to a purchaser; ⁽⁸⁶⁷⁾

(2) the property is not subject to further obligation under the private transfer fee obligation; and ⁽⁸⁶⁸⁾

(3) the private transfer fee obligation is void. ⁽⁸⁶⁹⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁷⁰⁾

Sec. 5.204. ADDITIONAL COMPLIANCE REQUIREMENT: TIMELY ACCEPTANCE OF FEES PAID UNDER EXISTING PRIVATE TRANSFER FEE OBLIGATIONS. ⁽⁸⁷¹⁾(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. ⁽⁸⁷²⁾

(b) If the payee of record fails to comply with Subsection (a): ⁽⁸⁷³⁾

(1) the payment must be returned to the remitter; ⁽⁸⁷⁴⁾

(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 ⁽⁸⁷⁵⁾

(3) the property is not subject to further obligation under the private transfer fee obligation. ⁽⁸⁷⁶⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁷⁷⁾

Sec. 5.205. DISCLOSURE OF EXISTING TRANSFER FEE OBLIGATION REQUIRED IN CONTRACT FOR SALE. ⁽⁸⁷⁸⁾(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. ⁽⁸⁷⁹⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁸⁰⁾

Sec. 5.206. WAIVER VOID. ⁽⁸⁸¹⁾(Text)

A provision that purports to waive a purchaser's rights under this subchapter is void. ⁽⁸⁸²⁾

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011. ⁽⁸⁸³⁾

Sec. 5.207. INJUNCTIVE OR DECLARATORY RELIEF; PROVIDING PENALTIES. ⁽⁸⁸⁴⁾(Text)

(a) The attorney general may institute an action for injunctive or declaratory relief to restrain a violation of this subchapter. ⁽⁸⁸⁵⁾

(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. ⁽⁸⁸⁶⁾

(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. ⁽⁸⁸⁷⁾

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