By Bailey H.B. No. 2439
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the recording of an instrument relating to real
1-3 property.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Sections 13.001(a) and (b), Property Code, are
1-6 amended to read as follows:
1-7 (a) A conveyance of real property or an interest in real
1-8 property or a mortgage or deed of trust is void <as to a creditor
1-9 or to a subsequent purchaser for a valuable consideration without
1-10 notice> unless the instrument has been acknowledged, sworn to, or
1-11 proved and filed for record as required by law not later than the
1-12 60th day after the date the instrument is executed.
1-13 (b) Notwithstanding Subsection (a), the <The> unrecorded
1-14 instrument is binding on a party to the instrument, on the party's
1-15 heirs, and on a subsequent purchaser who does not pay a valuable
1-16 consideration or who has notice of the instrument.
1-17 SECTION 2. The changes in law made by this Act apply only to
1-18 an instrument relating to real property that is executed on or
1-19 after the effective date of this Act. An instrument executed
1-20 before that date is governed by the law as it existed on the date
1-21 of execution, and the prior law is continued in effect for that
1-22 purpose.
1-23 SECTION 3. This Act takes effect September 1, 1993.
2-1 SECTION 4. The importance of this legislation and the
2-2 crowded condition of the calendars in both houses create an
2-3 emergency and an imperative public necessity that the
2-4 constitutional rule requiring bills to be read on three several
2-5 days in each house be suspended, and this rule is hereby suspended.