87R3643 DRS-F
 
  By: Beckley H.B. No. 1101
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to mandatory sales price disclosure in real property
  sales; providing a civil penalty.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 12, Property Code, is amended by adding
  Section 12.0014 to read as follows:
         Sec. 12.0014.  MANDATORY SALES PRICE DISCLOSURE.  (a)  A
  person may not file for record or have recorded in the county
  clerk's office an instrument conveying real property under a
  contract for sale unless the instrument discloses the sales price
  of the property.
         (b)  The purchaser of any property for which an instrument is
  recorded in violation of Subsection (a) is liable to the state for a
  civil penalty for each violation in an amount equal to five percent
  of the sales price of the property.
         (c)  The attorney general or the county or district attorney
  for the county in which the property is located may bring suit to
  recover a penalty under this section.
         (d)  This section does not apply to an instrument conveying
  only a mineral interest in real property.
         SECTION 2.  This Act takes effect September 1, 2021.