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A BILL TO BE ENTITLED
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AN ACT
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relating to prohibiting a fee for the conveyance of residential |
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real property, maintaining exemptions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 5.017(b), Property Code, is amended to |
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read as follows: |
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(b) A deed restriction or other covenant running with the |
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land applicable to the conveyance of [residential] real property |
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that requires a transfer or a transferee of residential real |
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property or the transferee's heirs, successors, or assigns to pay a |
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declarant or other person imposing the deed restriction or covenant |
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on the property or a third party designated by a transferor of the |
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property a fee in connection with any [a future] transfer of the |
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property is prohibited. A deed restriction or other covenant |
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running with the land that violates this section or a lien |
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purporting to encumber the land to secure a right under a deed |
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restriction or other covenant running with the land that violates |
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this section is void and unenforceable. For purposes of this |
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section, a conveyance of real property includes a conveyance or |
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other transfer of an interest or estate in residential real |
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property. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |