March 14, 2025
In This Issue:
- Need to Know Info for TDI 2024 Agent Data Call. Report due April 8 - Timely Reporting Critical
- Texas Legislature 89th Session Update: Memorandum of Contract and Negotiated Rulemaking Bills Filed, Aaron Day Testifies on Foreign Ownership Bill
- ICYMI: CTA / BOI Reporting Will Not Be Enforced Against Domestic Entities or U.S. Citizens
- Title Companies Help Mitigate Risk of Wire Fraud, ALTA Cybercrime Study Shows
Need to Know Info for TDI 2024 Agent Data Call. Report due April 11 - Timely Reporting Critical
TLTA | March 13, 2025
Per a bulletin TDI issued Monday, the official call for title agents' 2024 statistical data will be issued today, Friday, March 14. We’re giving you the following resources and information early so you’re ready to go when the forms and instructions are distributed by TDI today.
Important information and resources to help you comply »
Texas Legislature 89th Session Update: Memorandum of Contract and Negotiated Rulemaking Bills Filed, Aaron Day Testifies on Foreign Ownership Bill
TLTA | March 13, 2025
We are pleased to report that Rep. Ordaz filed
HB 4063, which is the memorandum of contract bill we are advocating for this session (learn more about TLTA's affirmative legislative agenda below). Increasingly, title agents are noticing the existence of Memorandum of Contracts on residential properties. These notices are creating complications at the closing table and opportunities for abuse, and this statutory clean up would serve our shared goal of maintain clear title.
Learn more.
And, legislation regarding TDI's implementation of negotiated rulemaking requirements was filed this week,
SB 2433 by Sen. Parker.
Learn more.
Also filed this week was HB 4531 by Rep. Bhojani, the House companion to the deed fraud self help bill we are advocating for this session.
We're grateful to the lawmakers who filed these bills, and we salute their commitment to bolstering and protecting property rights and our state's real estate market, thank you.
TLTA’s affirmative legislative agenda for the 89th Session
TLTA's advocacy team is supporting passage of the following bills during the 89th Legislative Session. These statutory changes would improve real estate transactions statewide:
Memorandum of Contract - HB 4063 (Ordaz)
HB 4063 »
Review TLTA's one-pager on this legislation »
Negotiated Rulemaking Implementation - SB 2433 (Parker)
SB 2433 »
Review TLTA's one-pager on this legislation »
Deed Fraud Self Help - SB 1734 (West) and HB 4531 (Bhojani)
SB 1734 »
HB 4531 »
Review TLTA's one-pager on this legislation »
Statistical Report Deadlines - SB 1810 (Schwertner) and HB 3502 (Rep. King)
SB 1810 »
HB 3502 »
Review TLTA's one-pager on this legislation »
County Clerk Recording Fee - SB 1547 (Zaffirini) and HB 3733 (Orr)
SB 1547 »
HB 3733 »
Review TLTA’s one-pager on this legislation »
These affirmative legislative agenda items were approved by
TLTA's Board of Directors as recommended by our
Legislative Committee, which is chaired by Steve Streiff. These statutory changes would improve real estate transactions statewide.
TLTA Vice President of Government Relations and Counsel Aaron Day testifies on SB 17 regarding foreign ownership of property
Foreign ownership of U.S. real estate continues to be a hot button political issue, and once again this session bills have been filed attempting to address this issue. TLTA and our building trades partners continue working in tandem to provide guidance to lawmakers trying to find workable solutions for the lawmakers to consider, while earlier versions would have greatly impacted our industry when closing each transaction. This bill now ensures that the integrity of title is maintained and that TLTA members are not deputized to enforce the law, conduct extensive due diligence or face new liability.
Recently, the Senate State Affairs Committee heard
SB 17, and TLTA Vice President of Government Relations and Counsel Aaron Day testified on the bill (click below to watch video).
Legislation TLTA's Advocacy Team Is Tracking
Bills related to adverse possession, land use, HOA's and more have been filed by lawmakers.
Review the 89th Session Bills of Interest your TLTA Advocacy Team is tracking this session. Note that this list will grow as more bills are filed. The bill filing deadline is March 14.
Questions About TLTA's Legislative Process?
TLTA's Legislative Committee, Local Legislative Liaisons, our industry's grassroots network and the TLTA PAC Board of Governors are all part of TLTA's team of engaged legislative advocates.
Learn More About TLTA's Legislative Process and How You Can Get Involved »
Fewer than 81 days remain in the Texas Legislature’s 89th Session.
ICYMI: CTA / BOI Reporting Will Not Be Enforced Against Domestic Entities or U.S. Citizens
Leslie S. Johnson, TLTA Board Member | March 6, 2025
Following our Dateline article last week advising you of the new, March 21 deadline to comply with reporting obligations of the Corporate Transparency Act (CTA), the status of CTA and entities’ obligations under it have continued to evolve.
On Thursday, February 27, FinCEN announced that it would not issue any fines or penalties or take any other enforcement action against any entities for failure to file or update beneficial ownership information (“BOI”) required under the CTA, effectively suspending enforcement of the CTA. However, on Sunday, March 2, the Treasury Department (of which FinCEN is a bureau) announced that not only would it not enforce any penalty or fine associated with the CTA under the March 21 deadline, it will not enforce any penalties or fines against U.S. citizens, domestic reporting companies, or their beneficial owners “after the forthcoming rules changes take effect[.]” The Department also stated that it would be issuing a proposed rulemaking “that will narrow the scope of the rule to foreign reporting companies only.”
The ultimate effect of this announcement is that the CTA will no longer be enforced against domestic entities or U.S. citizens. Further, federal regulations implementing the CTA will be revised to formally limit the application of the CTA to foreign entities. While the federal regulations do not affect the CTA itself, which is federal law, it is possible that Congress may move to repeal or modify the CTA in line with the revised regulations.
Review the Department's Announcement »
TLTA Editor's Note: Please be aware that the developments above do not impact FinCEN's new reporting requirements on all cash transactions that will be effective Dec. 1, 2025. More on that separate (but related) subject here.
Title Companies Help Mitigate Risk of Wire Fraud, ALTA Cybercrime Study Shows
ALTA | Feb. 27, 2025
Title professionals continue to be targeted by attempts to steal funds from real estate transactions, but consumer education and staff training are helping mitigate losses, according to ALTA’s latest cybercrime study.
Read more »