Relating to enforcement of a lien against certain decedents' interests in real property.
Impact
The bill aims to clarify the process of lien enforcement related to deceased individuals’ properties, filling in gaps in existing law regarding the handling of debts and foreclosure rights after a person's death. By establishing clear timelines and responsibilities, the bill seeks to protect both creditors and heirs, ensuring that processes are orderly and equitable. This aligns with goals to enhance the administration of estates and may help to reduce disputes that arise over property after the death of a homeowner, potentially simplifying the transition of property ownership to heirs.
Summary
House Bill 2795 addresses the enforcement of liens against certain decedents' interests in real property in Texas. It establishes a new chapter in the Estates Code that specifies the procedures mortgage servicers and mortgagees must follow when foreclosing on a lien secured by property owned by a decedent. A notable aspect of the bill is that it prohibits initiating foreclosure proceedings until at least 180 days after the decedent's death, allowing more time for heirs to navigate the estate before any claims on the property are enforced.
Contention
While the bill is largely procedural, it represents a shift in how liens and debts are treated upon a person's death, which may raise questions among various stakeholders including lenders, real estate professionals, and estate executors. There could be differing opinions on the bill's implications regarding the rights of creditors versus the protections afforded to heirs. Parties interested in estate management and property law may debate the balance it strikes between ensuring creditor rights are honored while also protecting heirs from immediate liability upon a decedent's passing.
Relating to decedents' estates and the delivery of certain notices or other communications in connection with those estates or multiple-party accounts.
Relating to decedents' estates and the delivery of certain notices or other communications in connection with those estates or multiple-party accounts.
Relating to suits affecting the parent-child relationship, including the payment and enforcement of support ordered in a suit affecting the parent-child relationship.
Relating to amendments to the Uniform Commercial Code, including amendments concerning certain intangible assets and the perfection of security interests in those assets.
Relating to amendments to the Uniform Commercial Code, including amendments concerning certain intangible assets and the perfection of security interests in those assets.
Relating to suits affecting the parent-child relationship, including the payment and enforcement of support ordered in a suit affecting the parent-child relationship.
Relating to an exemption of the transfer of certain rights in water from certain disclosure requirements applicable to the transfer of certain interests in real property.
Relating to an exemption of the transfer of certain rights in water from certain disclosure requirements applicable to the transfer of certain interests in real property.
Relating to the provision of accounting statements by a seller who finances the sale of residential real property owned by the seller; providing a civil penalty.