Texas HB622 mandates sales price disclosure in commercial and industrial real property sales, with a civil penalty for non-compliance.

Texas HB622 amends the Property Code to require disclosure of the sales price in instruments for commercial and industrial real property sales. Purchasers who buy properties with unrecorded sales prices face a civil penalty of five percent of the sales price. The attorney general or local district attorneys can sue to recover these penalties. This rule does not apply to mineral interest transfers. The law takes effect September 1, 2025.

Texas HB622 mandates sales price disclosure in commercial and industrial real property sales, with a civil penalty for non-compliance.

Texas HB622 amends the Property Code to require disclosure of the sales price in instruments for commercial and industrial real property sales. Purchasers who buy properties with unrecorded sales prices face a civil penalty of five percent of the sales price. The attorney general or local district attorneys can sue to recover these penalties. This rule does not apply to mineral interest transfers. The law takes effect September 1, 2025.