October 27, 2021
In This Issue:
- TLTA Amicus Letters Update: Supreme Court Analyzes Whether Assignee Must Sign Material Correction Instrument Where Original Parties Still Exist
- Legislative Update: Texas Legislature Sends Constitutional Amendment Increasing Homestead Exemption to Texas Voters
- Texans Will Decide Eight Proposed Amendments to the State Constitution This Tuesday, Nov. 2
- CFPB: Truth in Lending (Regulation Z) Annual Threshold Adjustments
TLTA Amicus Letters Update: Supreme Court Analyzes Whether Assignee Must Sign Material Correction Instrument Where Original Parties Still Exist
Jeremy T. Brown, TLTA Judiciary Committee Member | Oct. 27, 2021
The Texas Supreme Court issued final opinions in two cases for which TLTA submitted amicus letters:
- Concho Resources, inc. et al. v. Marsha Ellison, d/b/a/ Ellison Lease Operating
- Broadway Nat’l Bank v. Yates Energy Corp.
In this new report by TLTA Judiciary Committee member Jeremy T. Brown,
Supreme Court Analyzes Whether Assignee Must Sign Material Correction Instrument Where Original Parties Still Exist, you will find new, deep dive analysis of these cases based on the Supreme Court's final opinions.
TLTA's Judiciary Committee, which is chaired by Leslie Johnson, is responsible for recommending to our board of directors TLTA's position on court decisions that could affect the defense of title companies and title agents.
Read Jeremy Brown's Report »
Review TLTA's Amicus Letter for Concho Resources, inc. et al. v. Marsha Ellison »
Review TLTA's Amicus Letter for Broadway Nat’l Bank v. Yates Energy Corp. »
Legislative Update: 87th Texas Legislature's Third Special Session
TLTA | Oct. 27, 2021
The 87th Texas Legislature recently concluded their third special session on Tuesday, Oct. 19.
Redistricting—the process by which Texas legislators redraw the state’s electoral districts based on new population data from the census—was the special session's top issue, and lawmakers approved new maps for Texas' congressional seats, the Texas House, Texas Senate and State Board of Education:
Texas House
Texas Senate
Congressional
State Board of Education
A constitutional amendment related to increasing the homestead exemption was among the legislation approved by lawmakers during the special session. For the constitutional amendment to be implemented, Texas voters would have to approve the proposition via the May 2022 ballot. SJR 2 would increase the homestead exemption on school taxes to $40,000 from $25,000.
Review SJR 2 »
Nearly all of the issues that Governor Abbott included on the special session call were addressed by lawmakers. Items on the special session call that were not addressed by lawmakers include a constitutional amendment on bail reform, increasing Illegal-voting penalty, and banning vaccine mandates in Texas.
Learn more about what did and didn't pass during the special session in this
report from Texas Tribune.
Texans Will Decide Eight Proposed Amendments to the State Constitution This Tuesday, Nov. 2; Early Voting Continues Through Oct. 29
Texas Tribune | Oct. 15, 2021
Texas voters can soon weigh in on potential changes to the state’s Constitution regarding religious services, eligibility requirements for judges, county infrastructure and more.
Election day is Nov. 2, and early voting begins Oct. 18 and lasts until Oct. 29.
The proposed additions to the Texas Constitution were passed as bills during this year’s legislative session, and a majority of voters in the state must approve each amendment before it can be officially added to the Constitution. In 2017, Texas voters approved all seven amendments on the ballot; in 2019, voters greenlighted nine out of 10 proposed changes.
Learn More About Propositions on the Ballot »
Where and When to Vote From Texas Secretary of State »
CFPB: Truth in Lending (Regulation Z) Annual Threshold Adjustments
CFPB | Oct. 25, 2021
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA). The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; this final rule reviews the dollar amounts for provisions implementing TILA and amendments to TILA, including under the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), the Home Ownership and Equity Protection Act of 1994 (HOEPA), and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Read More »
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