81R11175 PMO-D
By: Paxton H.B. No. 3767
A BILL TO BE ENTITLED
AN ACT
relating to property designated as homestead property transferred
into an inter vivos trust.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 41, Property Code, is
amended by adding Section 41.0021 to read as follows:
Sec. 41.0021. TRANSFER OF PROPERTY INTO INTER VIVOS TRUST;
EFFECT ON HOMESTEAD DESIGNATION. A trustee may transfer by
warranty deed real property designated as a homestead into an inter
vivos trust without affecting the homestead designation of the
property if the trust settlor is a beneficiary of the trust.
SECTION 2. This Act applies only to a transfer that is
effective on or after the effective date of this Act. A transfer
that is effective before the effective date of this Act is governed
by the law as it existed immediately before the effective date of
this Act, and that law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2009.