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A BILL TO BE ENTITLED
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AN ACT
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relating to responsibility of new owners of residential rental |
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property for tenant security deposits. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 92.105, Property Code, is amended by |
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amending Subsections (a) and (b) and adding Subsection (b-1) to |
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read as follows: |
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(a) If the owner's interest in the premises is terminated by |
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sale, assignment, death, appointment of a receiver, bankruptcy, or |
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otherwise, the new owner is liable for the return of security |
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deposits according to this subchapter from the date title to the |
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premises is acquired [, regardless of whether notice is given to the
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tenant under Subsection (b) of this section]. |
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(b) The [person who no longer owns an interest in the rental
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premises remains liable for a security deposit received while the
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person was the owner until the] new owner shall deliver [delivers] |
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to the tenant a signed statement acknowledging that the new owner |
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has acquired the property [received] and is responsible for the |
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tenant's security deposit and specifying the exact dollar amount of |
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the deposit. |
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(b-1) The person who no longer owns an interest in the |
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rental premises is liable to the new owner for a security deposit |
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received while the person was the owner until the new owner has |
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received the deposit. |
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SECTION 2. The changes in law made by this Act apply only to |
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a security deposit received on or after the effective date of this |
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Act. A security deposit received before the effective date of this |
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Act is governed by the law applicable to the security deposit |
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immediately before that date, and the former law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |