TITLE: Relating to exceptions to the prohibition of certain fees for a future transfer of residential real property.

SUMMARY: Relating to exceptions to the prohibition of certain fees for a future transfer of residential real property.

FULL TEXT:
AN ACT relating to exceptions to the prohibition of certain fees for a future transfer of residential real property. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 5.017(c), Property Code, is amended to read as follows: (c) This section does not apply to a deed restriction or other covenant running with the land that requires a fee associated with the conveyance of property [in a subdivision] that is payable:(1) to: (A) [(1)] a property owners' association that manages or regulates the subdivision or the association's managing agent if the subdivision contains more than one platted lot; (B) [(2)] an entity organized under Section 501(c)(3), Internal Revenue Code of 1986; or (C) [(3)] a governmental entity;or (2) for the benefit or in consideration of a conservation easement created under Chapter 183, Natural Resources Code, located in a county with a population of at least 490,000 that is adjacent to: (A) a county in this state that borders Oklahoma; and (B) a county not described by Paragraph (A) that has a population of at least two million.SECTION 2. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.