Jan. 25, 2023
In This Issue:
- Texas AG Announces Investigation of Home Title Lock for Potentially Misleading Texas Consumers
- 88th Texas Legislature: Senate Committee Chairs Named, Legislators File Bills on Related to Foreign Ownership of Real Estate, Other Bills of Interest
- SURVEY: Have Your Agency Operations Been Impacted by the Veteran’s Land Board?
- ALTA Publishes Major Revision to Best Practices
Texas AG Announces Investigation of Home Title Lock for Potentially Misleading Texas Consumers
Texas Attorney General | Jan. 24, 2023
Attorney General Paxton has announced an investigation of Home Title Lock for potentially violating the Texas Deceptive Trade Practices Act by misleading consumers with deceptive statements concerning the prevalence of home title theft and the need for Home Title Lock’s services.
Learn More »
88th Texas Legislature: Senate Committee Chairs Named, Legislators File Bills Related to Foreign Ownership of Real Estate, Other Bills of Interest
TLTA | Jan. 25, 2023
The Lt. Governor announced
Texas Senate committee assignments this week, and while there are some structural changes to the Senate's standing committees, there were no surprise assignments on the committees that generally oversee our industry's issues. After committee assignments were announced, Senate Finance scheduled three weeks of hearings on the state budget. As mentioned in last week's Dateline, development of the state budget impacts all policy areas and decisions in the legislative process, and your team at TLTA continues to monitor that work.
We expect the House to name committees soon. Over the past four legislative session, the House has named committees no later than Feb. 9.
Legislators File Bills Related to Foreign Ownership of Real Estate
You may recall that last session a bill was filed related to restricting foreign ownership of real estate. TLTA shared its concerns with the legislature about that bill. The issue has resurfaced this session with three bills already having been filed that could impact our industry when closing transactions involving foreign buyers:
SB 552
SB 147
HB 1075
As foreign ownership of U.S. real estate continues to grow as a hot button political issue, we may see additional bills filed on this subject. TLTA's advocacy team will continue to monitor and work to address each of these.
Other Bills to Watch
TLTA's legislative team reviews all bills filed during the session and monitors those that might impact our industry or the state's real estate marketplace. If these bills begin to move through the process and TLTA takes official positions on them, we’ll provide more detailed information about our stance and how they might affect you and your business.
Review Current Bills to Watch List.
TLTA Board Adopts Affirmative Legislative Agenda for 88th Session
TLTA's Board of Directors met Jan. 18 to review and adopt three items on TLTA's affirmative legislative agenda for the Texas Legislature's 88th Session. The following items were approved by the board, meaning TLTA staff and other industry advocates are directed to work with lawmakers to seek passage of legislation addressing our industry's priorities and concerns as follows:
Enhance the statute prohibiting Private Transfer Fee Covenants in Texas.
Allow for Remote Ink Notary (RIN) within the existing statutory Remote Online Notary (RON) framework.
Clarify that a deed conveying title into a trust (as opposed to the trustee of that trust) shall be deemed to be a conveyance into the trustee.
Please note that additional affirmative agenda items could be considered or approved during the session. Additionally, there are other bills that TLTA may support during the session via our work with allied housing trade organizations and other advocates for our state's real estate marketplace.
If you have questions about TLTA's affirmative agenda or other aspects of our industry's work at the Texas Legislature this session, please send your questions to TLTA Director of Government Affairs and Counsel,
Aaron Day.
It's Not Too Late to Register for Day at the Texas Capitol Feb. 7-9
We're going to pack the halls of the state Capitol with title professionals Feb. 7-9. Please join us for this important event. This is the first session since COVID quarantine kept most of us out of the building. And there are dozens of new legislators. Combine all of that with some very tough issues lawmakers are facing this session and there's the potential for a tumultuous 140 days at the Texas Capitol. It is crucial that we clearly establish the personal constituent relationships with lawmakers, and you're participation in Day at the Capitol is the key to maintaining trust with legislators and protecting our industry's interests. Please
register now for Day at the Capitol and make your plan to join us.
SURVEY: Have Your Agency Operations Been Impacted by the Veteran’s Land Board?
TLTA | Jan. 24, 2023
If your closing times have increased as a result of the Veteran's Land Board survey approval process, we'd like to hear from you. We’re conducting a short, 3 question survey to gather relevant data on issues affecting closing times so that we can better advocate for you and your business.
Complete the Brief, 30-Second Survey Now »
Your feedback is anonymous and will be kept strictly confidential.
ALTA Publishes Major Revision to Best Practices
ALTA | Jan. 24, 2023
Changes to the ALTA Title Insurance and Settlement Company Best Practices have been published and go into effect May 23, 2023.
Learn More »