Texas SB3019 amends the Tax Code to regulate the process of recorded liens, including rules for payoff statements.

Texas SB3019 amends Section 32.06 of the Tax Code to enhance the authority process of a recorded lien. The Finance Commission of Texas is tasked with prescribing the form and content of a disclosure statement for property owners before a tax lien transfer. It also adopts rules on the reasonableness of closing costs, fees, and charges. The commission must set rules for the form and content of a payoff statement request and the transferee's response, including a minimum seven-day response period.

Texas SB3019 amends the Tax Code to regulate the process of recorded liens, including rules for payoff statements.

Texas SB3019 amends Section 32.06 of the Tax Code to enhance the authority process of a recorded lien. The Finance Commission of Texas is tasked with prescribing the form and content of a disclosure statement for property owners before a tax lien transfer. It also adopts rules on the reasonableness of closing costs, fees, and charges. The commission must set rules for the form and content of a payoff statement request and the transferee's response, including a minimum seven-day response period.