Texas HB3903 amends the Tax Code to clarify who can request a payoff statement from a property tax lender.

Texas HB3903 modifies the Tax Code to specify that a lender with an existing recorded lien on the property, a property owner, or a person authorized by the property owner can request a payoff statement. The Finance Commission of Texas must prescribe the form and content of the request and ensure the transferee delivers the statement within a period allowing at least seven business days. The consumer credit commissioner can impose penalties for failure to comply. The act takes effect September 1, 2025.

Texas HB3903 amends the Tax Code to clarify who can request a payoff statement from a property tax lender.

Texas HB3903 modifies the Tax Code to specify that a lender with an existing recorded lien on the property, a property owner, or a person authorized by the property owner can request a payoff statement. The Finance Commission of Texas must prescribe the form and content of the request and ensure the transferee delivers the statement within a period allowing at least seven business days. The consumer credit commissioner can impose penalties for failure to comply. The act takes effect September 1, 2025.