Texas HB291 mandates sales price disclosure reports for real property sales, exempting certain transfers, and outlines penalties for false statements.

Texas HB291 introduces requirements for sales price disclosure reports for real property sales. These reports must be filed by purchasers or grantees unless prepared by a title insurance company, lender, real estate agent, or attorney. The reports are exempt for sales made under court orders, to bankruptcy trustees, via power of sale, by deed in lieu of foreclosure, between co-owners, between spouses or family members, or to entities with eminent domain power. The chief appraiser cannot solely base property value increases on report information.

Texas HB291 mandates sales price disclosure reports for real property sales, exempting certain transfers, and outlines penalties for false statements.

Texas HB291 introduces requirements for sales price disclosure reports for real property sales. These reports must be filed by purchasers or grantees unless prepared by a title insurance company, lender, real estate agent, or attorney. The reports are exempt for sales made under court orders, to bankruptcy trustees, via power of sale, by deed in lieu of foreclosure, between co-owners, between spouses or family members, or to entities with eminent domain power. The chief appraiser cannot solely base property value increases on report information.