82nd Texas Legislature, Regular Session, House Bill 8, Chapter 211 Page: 1 of 11
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Chapter 211 H.B. No. 8
1 AN ACT
2 relating to prohibiting certain private transfer fees and the
3 preservation of private real property rights; providing penalties.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1i. Chapter 5, Property Code, is amended by adding
6 Subchapter G to read as follows:
7 SUBCHAPTER G. CERTAIN PRIVATE TRANSFER FEES PROHIBITED;
8 PRESERVATION OF PRIVATE REAL PROPERTY RIGHTS
9 Sec. 5.201. DEFINITIONS. In this subchapter:
10 (1) "Encumbered property" means all property,
11 including the property of a subsequent purchaser, subject to the
12 same private transfer fee obligation.
13 (2) "Lender" means a lending institution, including a
14 bank, trust company, banking association, savings and loan
15 association, mortgage company, investment bank, credit union, life
16 insurance company, and governmental agency, that customarily
17 provides financing or an affiliate of a lending institution.
18 (3) "Payee" means a person who claims the right to
19 receive or collect a private transfer fee payable under a private
20 transfer fee obligation and who may or may not have a pecuniary
21 interest in the obligation.
22 (4) "Private transfer fee" means an amount of money,
23 regardless of the method of determining the amount, that is payable
24 on the transfer of an interest in real property or payable for a1
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Texas. Legislature. House of Representatives. 82nd Texas Legislature, Regular Session, House Bill 8, Chapter 211, legislative document, June 17, 2011; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth311668/m1/1/: accessed April 23, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.