By Marchant H.B. No. 1995
77R2009 PAM-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to encumbrances that may be fixed on homestead property.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 41.001(b), Property Code, is amended to
1-5 read as follows:
1-6 (b) Encumbrances may be properly fixed on homestead property
1-7 for:
1-8 (1) purchase money;
1-9 (2) taxes on the property;
1-10 (3) work and material used in constructing
1-11 improvements on the property if contracted for in writing as
1-12 provided by Sections 53.254(a), (b), and (c);
1-13 (4) an owelty of partition imposed against the
1-14 entirety of the property by a court order or by a written agreement
1-15 of the parties to the partition, including a debt of one spouse in
1-16 favor of the other spouse resulting from a division or an award of
1-17 a family homestead in a divorce proceeding; [or]
1-18 (5) the refinance of a lien against a homestead,
1-19 including a federal tax lien resulting from the tax debt of both
1-20 spouses, if the homestead is a family homestead, or from the tax
1-21 debt of the owner;
1-22 (6) an extension of credit that meets the requirements
1-23 of Section 50(a)(6), Article XVI, Texas Constitution; or
1-24 (7) a reverse mortgage that meets the requirements of
2-1 Sections 50(k)-(p), Article XVI, Texas Constitution.
2-2 SECTION 2. This Act takes effect September 1, 2001.