Quick AI Analysis of Texas Memorandum Bill (NOT LEGAL ADVICE)

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https://legiscan.com/TX/text/HB4063/id/3230106

This Texas bill proposes a new law—Section 12.020 of the Property Code—that regulates how "unilateral memorandums of contract" involving residential property are recorded and released. Here's a plain-English summary of what the bill does and what it means:

Key Purpose

The bill protects property owners from having real estate sales or options falsely recorded against their property by someone who is not the owner and only claims to have a contract with the owner.

Definitions

Residential Property: Single-family homes, duplexes, triplexes, fourplexes, or individual condo units.
Unilateral Memorandum of Contract: A legal document filed by a non-owner that claims they have a right (e.g., a purchase contract or option) to buy or control the property. This document is not signed by the property owner.

Main Provisions

🔹 Filing Requirements (Section b)

Anyone who files a unilateral memorandum:

Must provide their mailing address.
Must mail a copy of the memorandum and a notice letter to the property owner at:
Must use registered or certified mail.

🔹 Owner's Right to Challenge (Section c–d)

If an owner receives such a memorandum or learns of it:

They can file an affidavit and certificate of mailing saying the memorandum is invalid.
They must send a copy of this affidavit to the filer of the original memorandum.

🔹 Effect of Owner's Affidavit (Section e–f)

Once the owner's affidavit is filed and 45 days pass, the memorandum becomes unenforceable unless the original filer submits a contradicting affidavit.