Texas Property Code

§ 12.020 — FILING AND RELEASE OF UNILATERAL MEMORANDUM OF CONTRACT CONCERNING RESIDENTIAL PROPERTY

PR § 12.020Title 3. PUBLIC RECORDS · Ch. 12. RECORDING OF INSTRUMENTS

Statute text

(a)In this section:

(1)"Residential property" means the real property and existing improvements for a single-family house, duplex, triplex, or quadruplex or a unit in a multiunit structure used for residential purposes in which title to the individual units is transferred to the owners under a condominium system.

(2)"Unilateral memorandum of contract" means a written document that is signed only by a person who is not an owner of the residential property and asserts that the person has entered into a contract with an owner of residential property for the purchase of an interest in the property, for an option to purchase an interest in the property, for a right of first refusal or first offer to purchase an interest in the property, or for a right to match any offer to purchase an interest in the property. The term does not include a deed or a document granting a right of first refusal pursuant to a condominium declaration.

(b)A person who files for recording a unilateral memorandum of contract concerning residential property shall:

(1)provide to the county clerk the person's mailing address and a certificate of mailing that substantially complies with Subsection (h) for recording with the unilateral memorandum of contract; and

(2)not later than the date the person files the memorandum with the county clerk, send a copy of the filed memorandum and a letter notifying the owner of the property of the filing of the memorandum by registered or certified mail, return receipt requested, to:

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Legislative history

Added by Acts 2025, 89th Leg., R.S., Ch. 647 (H.B. 4063), Sec. 1, eff. September 1, 2025.