1-1 By: Bosse (Senate Sponsor - Ellis) H.B. No. 452
1-2 (In the Senate - Received from the House April 7, 1993;
1-3 April 13, 1993, read first time and referred to Committee on
1-4 Jurisprudence; May 4, 1993, reported favorably by the following
1-5 vote: Yeas 6, Nays 0; May 4, 1993, sent to printer.)
1-6 COMMITTEE VOTE
1-7 Yea Nay PNV Absent
1-8 Henderson x
1-9 Harris of Tarrant x
1-10 Brown x
1-11 Harris of Dallas x
1-12 Luna x
1-13 Parker x
1-14 West x
1-15 A BILL TO BE ENTITLED
1-16 AN ACT
1-17 relating to the notice required for forfeiture and acceleration of
1-18 indebtedness under an executory contract for conveyance of real
1-19 property.
1-20 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-21 SECTION 1. Section 5.062, Property Code, is amended to read
1-22 as follows:
1-23 Sec. 5.062. Notice. (a) Notice under Section 5.061 of this
1-24 code must be in writing. If the notice is mailed, it must be by
1-25 registered or certified mail. The notice must be conspicuous and
1-26 printed in 10-point boldfaced type or uppercase typewritten
1-27 letters, and must include the statement:
1-28 NOTICE
1-29 YOU ARE LATE IN MAKING YOUR PAYMENT UNDER
1-30 THE CONTRACT TO BUY YOUR HOME. UNLESS YOU
1-31 MAKE THE PAYMENT BY (date) THE SELLER HAS
1-32 THE RIGHT TO TAKE POSSESSION OF YOUR HOME
1-33 AND TO KEEP ALL PAYMENTS YOU HAVE MADE TO
1-34 DATE.
1-35 (b) The notice must also specify:
1-36 (1) the delinquent amount, itemized into principal and
1-37 interest;
1-38 (2) any additional charges claimed, such as late
1-39 charges or attorney's fees; and
1-40 (3) the period to which the delinquency and additional
1-41 charges relate.
1-42 (c) Notice by mail is given when it is mailed to the
1-43 purchaser's residence or place of business. Notice by other
1-44 writing is given when it is delivered to the purchaser at the
1-45 purchaser's residence or place of business. The affidavit of a
1-46 person knowledgeable of the facts to the effect that notice was
1-47 given is prima facie evidence of notice. A subsequent bona fide
1-48 purchaser for value who relies upon the affidavit shall take title
1-49 free and clear of the contract if the purchaser is not in
1-50 possession of the real property and if the stated time to avoid the
1-51 forfeiture has expired.
1-52 SECTION 2. This Act takes effect September 1, 1993.
1-53 SECTION 3. The importance of this legislation and the
1-54 crowded condition of the calendars in both houses create an
1-55 emergency and an imperative public necessity that the
1-56 constitutional rule requiring bills to be read on three several
1-57 days in each house be suspended, and this rule is hereby suspended.
1-58 * * * * *
1-59 Austin,
1-60 Texas
1-61 May 4, 1993
1-62 Hon. Bob Bullock
1-63 President of the Senate
1-64 Sir:
1-65 We, your Committee on Jurisprudence to which was referred H.B.
1-66 No. 452, have had the same under consideration, and I am instructed
1-67 to report it back to the Senate with the recommendation that it do
1-68 pass and be printed.
2-1 Henderson,
2-2 Chairman
2-3 * * * * *
2-4 WITNESSES
2-5 FOR AGAINST ON
2-6 ___________________________________________________________________
2-7 Name: Fred Bosse x
2-8 Representing:
2-9 City: Austin
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