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A BILL TO BE ENTITLED
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AN ACT
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relating to voluntary sales price disclosure in real property |
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sales. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 12, Property Code, is amended by adding |
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Section 12.0012 to read as follows: |
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Sec. 12.0012. VOLUNTARY SALES PRICE DISCLOSURE. (a) If a |
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person voluntarily discloses the purchase price of property to be |
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filed for record or have recorded in the county clerk's office an |
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instrument conveying real property under a contract for sale, the |
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sales price disclosed becomes the market value that the chief |
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appraisal adopts as value for January 1st of that year. |
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(b) This section does not apply to an instrument conveying |
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only a mineral interest in real property. |
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SECTION 2. This section takes effect September 1, 2009 |