Texas Property Code

§ 5.201 — DEFINITIONS

PR § 5.201Title 2. CONVEYANCES · Ch. 5. CONVEYANCES · Art. G. CERTAIN PRIVATE TRANSFER FEES PROHIBITED; PRESERVATION OF PRIVATE REAL PROPERTY RIGHTS

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In this subchapter:

(1)"Encumbered property" means all property, including the property of a subsequent purchaser, subject to the same private transfer fee obligation.

(2)"Lender" means a lending institution, including a bank, trust company, banking association, savings and loan association, mortgage company, investment bank, credit union, life insurance company, and governmental agency, that customarily provides financing or an affiliate of a lending institution.

(3)"Payee" means a person who claims the right to receive or collect a private transfer fee payable under a private transfer fee obligation and who may or may not have a pecuniary interest in the obligation.

(4)"Private transfer fee" means an amount of money, regardless of the method of determining the amount, that is payable on the transfer of an interest in real property or payable for a right to make or accept a transfer.

(5)"Private transfer fee obligation" means an obligation to pay a private transfer fee created under:

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Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 211 (H.B. 8), Sec. 1, eff. June 17, 2011.