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House Bill 207 |
House Author: Murr et al. |
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Effective: 9-1-23 |
Senate Sponsor: Middleton |
House Bill 207 amends the Property Code to exclude from classification as a sham or pretended sale involving any condition of defeasance the conveyance by an individual of one or more parcels that do not meet certain statutory definitions of an urban homestead to an entity in which the individual or the individual's spouse has a direct or indirect ownership interest if:
· the deed conveying the parcel is recorded at least 30 days before the entity grants any lien on the parcel;
· the individual does not reside on the parcel at the time of the conveyance;
· the parcel is not contiguous to the parcel of residence;
· the deed conveying the parcel does not contain a condition of defeasance; and
· the individual recorded an affidavit contemporaneously with the deed.