Texas HB3685 requires title insurance companies or agents to inform home buyers about potential residence homestead exemptions during property.

Texas HB3685 amends the Insurance Code to mandate that title insurance companies or agents provide home buyers with a notice of possible eligibility for residence homestead exemptions during the closing and settlement of residential real property purchases. This notice must inform the buyer that the property may qualify for exemptions that reduce ad valorem taxes. Additionally, the bill requires the provision of an application form for such exemptions under the Tax Code.

Texas HB3685 requires title insurance companies or agents to inform home buyers about potential residence homestead exemptions during property.

Texas HB3685 amends the Insurance Code to mandate that title insurance companies or agents provide home buyers with a notice of possible eligibility for residence homestead exemptions during the closing and settlement of residential real property purchases. This notice must inform the buyer that the property may qualify for exemptions that reduce ad valorem taxes. Additionally, the bill requires the provision of an application form for such exemptions under the Tax Code.