By: Hilderbran H.B. No. 4256
A BILL TO BE ENTITLED
AN ACT
relating to voluntary sales price disclosure in real property
sales.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 12, Property Code, is amended by adding
Section 12.0012 to read as follows:
Sec. 12.0012. VOLUNTARY SALES PRICE DISCLOSURE. (a) If a
person voluntarily discloses the purchase price of property to be
filed for record or have recorded in the county clerk's office an
instrument conveying real property under a contract for sale, the
sales price disclosed becomes the market value that the chief
appraisal adopts as value for January 1st of that year.
(b) This section does not apply to an instrument conveying
only a mineral interest in real property.
SECTION 2. This section takes effect September 1, 2009