By: Flores H.B. No. 2072
73R1966 SOS-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the redemption of real property sold at a property 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 that was sold at a tax sale and that was not the residence
1-9 homestead of the owner at the time of sale may redeem the property
1-10 within two years after the date on which the purchaser's deed is
1-11 filed for record by paying the purchaser the amount the purchaser
1-12 <he> bid for the property, the amount of the deed recording fee,
1-13 and the amount paid by the purchaser as taxes, penalties, interest,
1-14 and costs on the property, plus 25 percent of the aggregate total
1-15 if the property is redeemed during the first year of the redemption
1-16 period or 50 percent of the aggregate total if the property is
1-17 redeemed during the second year of the redemption period.
1-18 (b) The owner of real property that was sold at a tax sale
1-19 and that was the residence homestead of the owner at the time of
1-20 the sale may redeem the property during the 180 days after the date
1-21 on which the purchaser's deed is filed for record by paying the
1-22 purchaser the amount the purchaser bid for the property, the amount
1-23 of the deed recording fee, and the amount paid by the purchaser as
1-24 taxes, penalties, interest, and costs on the property, plus 25
2-1 percent of the aggregate total if the property is redeemed during
2-2 the first 90 days of the redemption period or 50 percent of the
2-3 aggregate total if the property is redeemed during the second 90
2-4 days of the redemption period.
2-5 (c) <(b)> If the owner of the property makes an affidavit
2-6 that he has made diligent search in the county in which the
2-7 property is located for the purchaser at the tax sale and has
2-8 failed to find him, that the purchaser at the sale is not a
2-9 resident of the county in which the property is located, that he
2-10 and the purchaser cannot agree on the amount of redemption money
2-11 due, or that the purchaser refuses to give him a quitclaim deed to
2-12 the property, the owner may redeem the land by paying the required
2-13 amount as prescribed by Subsection (a) or (b) to the
2-14 assessor-collector for the county in which the property is located.
2-15 The assessor-collector receiving the payment shall give the owner a
2-16 signed receipt witnessed by two persons. The receipt, when
2-17 recorded, is notice to all persons that the property described has
2-18 been redeemed. The assessor-collector shall on demand pay the
2-19 money received by him to the purchaser at the tax sale.
2-20 (d) <(c)> The right of redemption does not grant or reserve
2-21 in the former owner of the real property the right to the use or
2-22 possession of the property, or to receive rents, income, or other
2-23 benefits from the property while the right of redemption exists.
2-24 (e) In this section, "residence homestead" has the meaning
2-25 assigned by Section 11.13(j).
2-26 SECTION 2. This Act takes effect on the date on which the
2-27 constitutional amendment proposed by the 73rd Legislature, Regular
3-1 Session, 1993, reducing the period for redemption of property sold
3-2 at a tax sale, takes effect. If that amendment is not approved by
3-3 the voters, this Act has no effect.
3-4 SECTION 3. The importance of this legislation and the
3-5 crowded condition of the calendars in both houses create an
3-6 emergency and an imperative public necessity that the
3-7 constitutional rule requiring bills to be read on three several
3-8 days in each house be suspended, and this rule is hereby suspended.