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TX HB3412
Bill
Status
2/26/2025
Primary Sponsor
Erin Gamez
Click for details
AI Summary
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Title insurance companies and agents must provide home buyers with notice during closing that the property may qualify for residence homestead exemptions from property taxes, including eligibility criteria, application deadlines, and filing instructions
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Title insurance companies must assist buyers in applying for homestead exemptions or apply on their behalf when the buyer intends to occupy the property as their residence, unless the buyer waives this service
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Title insurance companies may charge a reasonable fee for exemption application assistance, but must disclose the fee to the buyer
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Violations of these requirements subject title insurance companies to administrative penalties of up to $500
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Repeals existing Tax Code sections 11.43(n) and (p), with the new requirements applying to contracts entered into on or after September 1, 2025
Legislative Description
Relating to notice of and assistance in filing an application for a residence homestead exemption from ad valorem taxation provided to a home buyer by a title insurance company or title insurance agent in connection with the closing and settlement of certain transactions pertaining to residential real property; authorizing a fee; providing for the imposition of an administrative penalty.
Property Interests
Last Action
Referred to Insurance
3/21/2025