Tex. Fin. Code § 159.002

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 159.002 - Inapplicability Of Chapter
(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.

Tex. Fin. Code § 159.002

Added by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 76,Sec. 3, eff. 1/1/2022.