LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 30, 2017 TO: Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3121 by Farrar (Relating to a revocable deed that transfers real property at the transferor's death.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Chapter 114 of the Estates Code to address the transfer of an interest in real property at the death of the interest holder. It would revise provisions addressing transfer in the event a designated beneficiary fails to survive the transferring party by at least 120 hours. The bill would also revise the terms of the Optional Form for Transfer on Death to allow the transferring party to indicate what should happen in these instances. No significant fiscal impact on the state court system or local courts is anticipated. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:212 Office of Court Administration, Texas Judicial Council LBB Staff: UP, LBO, SD, SJS, AG
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 30, 2017
TO: Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3121 by Farrar (Relating to a revocable deed that transfers real property at the transferor's death.), As Introduced
TO: Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3121 by Farrar (Relating to a revocable deed that transfers real property at the transferor's death.), As Introduced
Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence
Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB3121 by Farrar (Relating to a revocable deed that transfers real property at the transferor's death.), As Introduced
HB3121 by Farrar (Relating to a revocable deed that transfers real property at the transferor's death.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 114 of the Estates Code to address the transfer of an interest in real property at the death of the interest holder. It would revise provisions addressing transfer in the event a designated beneficiary fails to survive the transferring party by at least 120 hours. The bill would also revise the terms of the Optional Form for Transfer on Death to allow the transferring party to indicate what should happen in these instances. No significant fiscal impact on the state court system or local courts is anticipated.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 212 Office of Court Administration, Texas Judicial Council
212 Office of Court Administration, Texas Judicial Council
LBB Staff: UP, LBO, SD, SJS, AG
UP, LBO, SD, SJS, AG