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A BILL TO BE ENTITLED
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AN ACT
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relating to the forced sale of certain inherited interests in real |
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property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 29.002, Property Code, is amended by |
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adding Subsection (a-1) and amending Subsection (b) to read as |
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follows: |
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(a-1) A person, including a nonprofit organization, that |
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owns an undivided interest in real property to which this chapter |
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applies may file in the district court in a county in which the |
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property is located a petition for a court order to require another |
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owner of an undivided interest of less than $5,000 in that property |
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to sell the other owner's interest in the property if: |
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(1) the other owner was given a reasonable opportunity |
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to agree to sell their interest in the property and refused; |
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(2) a person that owns a majority interest in the |
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property agrees to sell the person's interest in the property; |
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(3) the other owner has never paid ad valorem taxes |
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imposed on the property; and |
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(4) the property is not the homestead of the other |
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owner. |
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(b) A [The] petition filed under Subsection (a) or (a-1) |
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must contain: |
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(1) a description of the property; |
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(2) the name of each known owner of the property; |
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(3) the interest held by each known owner of the |
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property; |
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(4) the total amount paid by the petitioner for the |
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defendant's share of ad valorem taxes imposed on the property; and |
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(5) if applicable, the amount paid by the defendant to |
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the petitioner to reimburse the petitioner for paying the |
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defendant's share of ad valorem taxes imposed on the property. |
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SECTION 2. This Act takes effect September 1, 2007. |