| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R11026 ATP-D | |
| 2 | 2 | By: Hinojosa H.B. No. 2334 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to restrictions on the purchase of a single-family home by | |
| 10 | 10 | an investment firm. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Subchapter A, Chapter 5, Property Code, is | |
| 13 | 13 | amended by adding Section 5.0155 to read as follows: | |
| 14 | 14 | Sec. 5.0155. LIMITATION ON CERTAIN PURCHASERS. (a) In this | |
| 15 | 15 | section, "investment firm" means a corporation or trust engaged in | |
| 16 | 16 | the business of investing the pooled capital of investors in | |
| 17 | 17 | financial securities. | |
| 18 | 18 | (b) An investment firm may not enter into an executory | |
| 19 | 19 | contract to purchase a single-family home that is listed for sale | |
| 20 | 20 | before the 30th day after the date the home is listed. | |
| 21 | 21 | (c) A contract entered into in violation of this section is | |
| 22 | 22 | voidable by the seller at any time before the contract is fully | |
| 23 | 23 | executed. | |
| 24 | 24 | SECTION 2. Section 5.0155, Property Code, as added by this | |
| 25 | 25 | Act, applies only to an executory contract entered into on or after | |
| 26 | 26 | the effective date of this Act. | |
| 27 | 27 | SECTION 3. This Act takes effect September 1, 2025. |