Here’s a brief summary of the bill:
House Bill 3115: Release of Abstract of Judgment From Homestead
Historically a title company was unable to make the legal determination as to whether or not the property was in fact the seller’s homestead.
This bill sets forth a period in which all parties can rely on a recorded homestead affidavit to determine whether or not a specific piece of property is the seller’s homestead. This law allows title to rely on the affidavit – assuming it is properly filed – for a 90 day window as long as the creditor is properly noticed and they do not file an objecting affidavit.
If you have any questions, please call me at (817) 952-9000