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A BILL TO BE ENTITLED
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AN ACT
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relating to ad valorem tax lien transfers. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 32.06(a-1), (a-4), (b-1), and (f-1), |
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Tax Code, are amended to read as follows: |
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(a-1) A property owner may authorize another person to pay |
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the taxes imposed by a taxing unit on the owner's real property by |
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executing and filing with the collector for the taxing unit: |
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(1) a sworn document stating: |
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(A) the authorization for payment of the taxes; |
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(B) the name and street address of the transferee |
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authorized to pay the taxes of the property owner; |
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(C) a description of the property by street |
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address, if applicable, and legal description; [and] |
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(D) that notice has been given to the property |
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owner that if the property owner is disabled, the property owner may |
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be eligible for a tax deferral under Section 33.06; |
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(E) that the disclosure statement required by |
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Subsection (a-4)(1) has been provided to the property owner; and |
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(F) that the notice required by Subsection (b-1) |
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has been mailed by certified mail to any mortgage servicer and to |
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each holder of a recorded preexisting lien encumbering the |
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property; and |
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(2) the information required by Section 351.054, |
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Finance Code. |
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(a-4) The Finance Commission of Texas shall: |
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(1) prescribe the form and content of an appropriate |
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disclosure statement to be provided to a property owner not later |
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than the 12th day before the execution of a tax lien transfer; |
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(2) adopt rules relating to the reasonableness of |
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closing costs, fees, and other charges permitted under this |
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section; |
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(3) by rule prescribe the form and content of the sworn |
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document under Subsection (a-1) and the certified statement under |
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Subsection (b); and |
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(4) by rule prescribe the form and content of a request |
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a lender with an existing recorded lien on the property must use to |
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request a payoff statement and the transferee's response to the |
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request, including the period within which the transferee must |
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respond. |
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(b-1) Not later than the 12th day before the date the |
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property owner files the sworn document required by Subsection |
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(a-1) with the collector for the taxing unit [10th business day
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after the date the certified statement is received by the
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transferee], the transferee shall send by certified mail [a copy of
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the sworn document described by Subsection (a-1)] to any mortgage |
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servicer and to each holder of a recorded preexisting [first] lien |
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encumbering the property a notice that the property owner has |
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requested that the transferee pay the taxes on the property, that |
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the tax lien will be transferred to the transferee, and that the |
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transferred tax lien will be superior to the mortgage. The notice |
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[copy] must be sent, as applicable, to the address shown on the most |
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recent payment invoice, statement, or payment coupon provided by |
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the mortgage servicer to the property owner, or the address of the |
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holder of a recorded preexisting [first] lien as shown in the real |
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property records. |
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(f-1) If an obligation secured by a preexisting first lien |
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on the property is delinquent [for at least 90 consecutive days] and |
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the obligation has been referred to a collection specialist, the |
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mortgage servicer or the holder of the first lien may send a notice |
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of the delinquency to the transferee of a tax lien. The mortgage |
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servicer or the first lienholder is entitled, within six months |
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after the date on which that notice is sent, to obtain a release of |
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the transferred tax lien by paying the transferee of the tax lien |
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the amount owed under the contract between the property owner and |
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the transferee. The Finance Commission of Texas by rule shall |
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prescribe the form and content of the notice under this subsection. |
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SECTION 2. The change in law made by this Act applies only |
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to an ad valorem tax lien transferred on or after the effective date |
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of this Act. An ad valorem tax lien transferred before the |
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effective date of this Act is governed by the law in effect on the |
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date the tax lien was transferred, and the former law is continued |
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in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |