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Texas Occupations Code - OCC § 1201.2075. Conversion from Personal Property to Real Property

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as provided by Subsection (b) or Section 1201.206(k), the department may not issue a statement of ownership for a manufactured home that is being converted from personal property to real property until:

(1) each lien on the home is released by the lienholder;  or

(2) each lienholder gives written consent, to be placed on file with the department.

(b) The department may issue a statement of ownership before the release of any liens or before receiving the consent of any lienholders as required by this section, or without receiving the statement required by Section 1201.206(g), if the department releases a copy of the statement to:

(1) a licensed title insurance company that has issued a commitment to issue a title insurance policy covering all prior liens on the home in connection with a loan that the title company has closed;  or

(2) a federally insured financial institution or licensed attorney who has obtained from a licensed title insurance company a title insurance policy covering all prior liens on the home.

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Cite this article: FindLaw.com - Texas Occupations Code - OCC § 1201.2075. Conversion from Personal Property to Real Property - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-1201-2075/

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