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A BILL TO BE ENTITLED
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AN ACT
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relating to the foreclosure of certain liens on real property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 202.002(a), Property Code, is amended to |
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read as follows: |
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(a) Except as otherwise provided by this chapter, |
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this [This] chapter applies to all restrictive covenants |
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regardless of the date on which they were created. |
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SECTION 2. Chapter 202, Property Code, is amended by adding |
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Section 202.010 to read as follows: |
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Sec. 202.010. FORECLOSURE OF CERTAIN LIENS. On or after the |
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effective date of this section, a restrictive covenant may not be |
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adopted that places a lien on real property to secure payment of a |
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debt created by the covenant unless the covenant exempts a |
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homestead, as defined by Section 41.002, from foreclosure of the |
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lien. |
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SECTION 3. 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, 2011. |