| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the foreclosure of certain liens on real property. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Chapter 202, Property Code, is amended by adding |
|
|
Section 202.010 to read as follows: |
|
|
Sec. 202.010. FORECLOSURE OF CERTAIN LIENS. A restrictive |
|
|
covenant may not be adopted that places a lien on real property to |
|
|
secure payment of a debt created by the covenant unless the covenant |
|
|
exempts a homestead, as defined by Section 41.002, from foreclosure |
|
|
of the lien. |
|
|
SECTION 2. Section 202.010, Property Code, as added by this |
|
|
Act, applies to a restrictive covenant adopted on or after the |
|
|
effective date of this Act. A restrictive covenant adopted before |
|
|
the effective date of this Act is governed by the law in effect |
|
|
immediately before that date, and that law is continued in effect |
|
|
for that purpose. |
|
|
SECTION 3. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2009. |