| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 81R655 AJA-D | |
| 2 | 2 | By: Dutton H.B. No. 899 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the foreclosure of certain liens on real property. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Chapter 202, Property Code, is amended by adding | |
| 10 | 10 | Section 202.010 to read as follows: | |
| 11 | 11 | Sec. 202.010. FORECLOSURE OF CERTAIN LIENS. A restrictive | |
| 12 | 12 | covenant may not be adopted that places a lien on real property to | |
| 13 | 13 | secure payment of a debt created by the covenant unless the covenant | |
| 14 | 14 | exempts a homestead, as defined by Section 41.002, from foreclosure | |
| 15 | 15 | of the lien. | |
| 16 | 16 | SECTION 2. Section 202.010, Property Code, as added by this | |
| 17 | 17 | Act, applies to a restrictive covenant adopted on or after the | |
| 18 | 18 | effective date of this Act. A restrictive covenant adopted before | |
| 19 | 19 | the effective date of this Act is governed by the law in effect | |
| 20 | 20 | immediately before that date, and that law is continued in effect | |
| 21 | 21 | for that purpose. | |
| 22 | 22 | SECTION 3. This Act takes effect immediately if it receives | |
| 23 | 23 | a vote of two-thirds of all the members elected to each house, as | |
| 24 | 24 | provided by Section 39, Article III, Texas Constitution. If this | |
| 25 | 25 | Act does not receive the vote necessary for immediate effect, this | |
| 26 | 26 | Act takes effect September 1, 2009. |