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A BILL TO BE ENTITLED
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AN ACT
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relating to a requirement for a deed to include a statement |
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regarding certain fraudulent conveyances or recordings. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 5, Property Code, is |
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amended by adding Section 5.020 to read as follows: |
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Sec. 5.020. STATEMENT REGARDING FRAUDULENT CONVEYANCES OR |
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RECORDINGS. (a) A deed conveying an interest in real property |
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located in this state must contain a statement that includes: |
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(1) a list of offenses under the laws of this state |
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relating to: |
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(A) the fraudulent conveyance of an interest in |
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real property; and |
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(B) the fraudulent recording of a deed; and |
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(2) the criminal penalties associated with offenses |
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listed under Subdivision (1). |
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(b) The supreme court by rule shall prescribe the form of |
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the statement required under Subsection (a). |
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SECTION 2. Chapter 12, Property Code, is amended by adding |
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Section 12.020 to read as follows: |
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Sec. 12.020. RECORDING OF CERTAIN DEEDS PROHIBITED. |
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Notwithstanding any other law, a deed conveying an interest in real |
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property located in this state may not be recorded in the real |
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property records of a county unless the deed contains the statement |
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required by Section 5.020. |
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SECTION 3. Not later than December 1, 2021, the Texas |
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Supreme Court by rule shall prescribe the form of the statement |
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required by Section 5.020, Property Code, as added by this Act. |
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SECTION 4. The changes in law made by this Act apply only to |
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a deed executed on or after the effective date of this Act. A deed |
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executed before the effective date of this Act is governed by the |
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law as it existed immediately before the effective date of this Act, |
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and that law is continued in effect for that purpose. |
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SECTION 5. (a) Except as provided by Subsection (b) of this |
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section, this Act takes effect January 1, 2022. |
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(b) Section 3 of this Act takes effect September 1, 2021. |