Bill > HB622

This bill adds a new section to the Texas Property Code that requires sellers of commercial and industrial real property to disclose the sales price when filing property transfer documents with the county clerk's office. If a seller fails to disclose the sales price, the purchaser will be liable to pay the state a civil penalty equal to five percent of the property's sales price. The penalty can be pursued by either the state attorney general or the county/district attorney in the jurisdiction where the property is located. The law specifically excludes mineral interest transfers from this requirement. The new provision will go into effect on September 1, 2025, giving property sellers and buyers time to prepare for the new mandatory disclosure rule. The bill aims to increase transparency in commercial and industrial real estate transactions by ensuring that sales prices are publicly recorded.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB622