By: Eckels H.B. No. 768
73R3305 SMH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the right of redemption of real property sold at a tax
1-3 sale.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 34.21, Tax Code, is amended to read as
1-6 follows:
1-7 Sec. 34.21. Right of Redemption. (a) The owner of real
1-8 property sold at a tax sale that was the residence homestead of the
1-9 owner or that was land designated for agricultural use when the
1-10 suit to collect the tax was filed may redeem the property within
1-11 two years after the date on which the purchaser's deed is filed for
1-12 record by paying the purchaser the amount the purchaser <he> bid
1-13 for the property, the amount of the deed recording fee, and the
1-14 amount paid by the purchaser as taxes, penalties, interest, and
1-15 costs on the property, plus 25 percent of the aggregate total if
1-16 the property is redeemed during the first year of the redemption
1-17 period or 50 percent of the aggregate total if the property is
1-18 redeemed during the second year of the redemption period.
1-19 (b) The owner of real property sold at a tax sale other than
1-20 property covered by Subsection (a) may redeem the property within
1-21 six months after the date on which the purchaser's deed is filed
1-22 for record by paying the purchaser the amount the purchaser bid for
1-23 the property, the amount of the deed recording fee, and the amount
1-24 paid by the purchaser as taxes, penalties, interest, and costs on
2-1 the property, plus 25 percent of the aggregate total.
2-2 (c) If the owner of the real property makes an affidavit
2-3 that he has made diligent search in the county in which the
2-4 property is located for the purchaser at the tax sale and has
2-5 failed to find him, that the purchaser at the sale is not a
2-6 resident of the county in which the property is located, that he
2-7 and the purchaser cannot agree on the amount of redemption money
2-8 due, or that the purchaser refuses to give him a quitclaim deed to
2-9 the property, the owner may redeem the property <land> by paying
2-10 the required amount as prescribed by Subsection (a) or (b), as
2-11 applicable, to the assessor-collector for the county in which the
2-12 property is located. The assessor-collector receiving the payment
2-13 shall give the owner a signed receipt witnessed by two persons.
2-14 The receipt, when recorded, is notice to all persons that the
2-15 property described has been redeemed. The assessor-collector shall
2-16 on demand pay the money received by him to the purchaser at the tax
2-17 sale.
2-18 (d) <(c)> The right of redemption does not grant or reserve
2-19 in the former owner of the real property the right to the use or
2-20 possession of the property, or to receive rents, income, or other
2-21 benefits from the property while the right of redemption exists.
2-22 (e) In this section, "residence homestead" has the meaning
2-23 assigned by Section 11.13.
2-24 (f) In this section, "agricultural use" has the meaning
2-25 assigned by Section 23.51.
2-26 SECTION 2. (a) This Act takes effect January 1, 1994, but
2-27 only if the constitutional amendment proposed by the 73rd
3-1 Legislature, Regular Session, 1993, to modify the period in which
3-2 the former owner of real property may redeem the property after a
3-3 tax sale, is approved by the voters. If that amendment is not
3-4 approved by the voters, this Act has no effect.
3-5 (b) This Act applies to redemption of real property sold at
3-6 a tax sale for which the purchaser's deed is filed for record on or
3-7 after the effective date of this Act. Redemption of real property
3-8 sold at a tax sale for which the purchaser's deed is filed for
3-9 record before the effective date of this Act is covered by the law
3-10 in effect when the deed is filed, and the former law is continued
3-11 in effect for that purpose.
3-12 SECTION 3. The importance of this legislation and the
3-13 crowded condition of the calendars in both houses create an
3-14 emergency and an imperative public necessity that the
3-15 constitutional rule requiring bills to be read on three several
3-16 days in each house be suspended, and this rule is hereby suspended.