Tex. Fin. Code § 159.002 · Subchapter A. GENERAL PROVISIONS
INAPPLICABILITY OF CHAPTER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "unimproved residential real estate" means residential real estate on which a dwelling has not been constructed.
(b) Notwithstanding any other provision of this chapter, this chapter does not apply to a wrap mortgage loan:
(1) made by or on behalf of an owner of unimproved residential real estate to a purchaser of that residential real estate if:
(A) the residential real estate purchased will not continue to be subject to any unreleased lien described by Section 159.001(7)(A) that secures a debt that is subject to a due-on-sale clause in connection with which the lienholder may foreclose the lien; or
(B) the residential real estate purchased will continue to be subject to an unreleased lien described by Paragraph (A) and the holder of that unreleased lien has consented to the sale of the residential real estate; or
(2) for a sale of residential real estate that is the wrap lender's homestead.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.159.htm
- Text hash
- sha256 3af0da19a5898b6d18ed66b4610105b3d9dfa30fbad41ff3ec9e88c85626b82a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.