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TX HB3685
Bill
Status
3/4/2025
Primary Sponsor
Terri Leo-Wilson
Click for details
AI Summary
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Requires title insurance companies and agents to notify home buyers at closing that their property may qualify for residence homestead exemptions from ad valorem (property) taxation, which would reduce their tax burden
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Mandates that title insurance companies and agents provide buyers with an application form for the homestead exemption under Section 11.13 of the Tax Code during the closing and settlement process
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Exempts transactions from these requirements if the closing is not actually handled by a title insurance company, title insurance agent, or their attorneys or representatives
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Applies only to residential real property purchases under contracts entered into on or after the effective date
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Takes effect September 1, 2025
Legislative Description
Relating to notice of possible eligibility 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 a purchase of residential real property.
Property Interests
Last Action
Referred to Insurance
3/25/2025