Enrolled Bill Summary
Legislative Session: 76(R)SENATE BILL 436 |
SENATE AUTHOR: Nixon, Drew |
EFFECTIVE: 09-01-99 |
HOUSE SPONSOR: McReynolds |
Senate Bill 436 amends the Property Code to require a person who offers to purchase mineral or royalty interests to include in the offer a conspicuous statement that the conveyor of the interest is selling all or a portion of the mineral or royalty interest in that property. The act also authorizes a conveyor of interest to bring suit against a purchaser if the purchaser fails to provide notice.