Texas Statutes
Subchapter D. Licensing Requirements
Section 1704.155. Real Property List

Sec. 1704.155. REAL PROPERTY LIST. A list of nonexempt real property required under Section 1704.154(b)(3) must, for each parcel listed, include:
(1) a legal description of the property that would be sufficient to convey the property by general warranty deed;
(2) a current statement from each taxing unit authorized to impose taxes on the property showing that there is no outstanding tax lien against the property;
(3) at the option of the applicant, either the property's:
(A) net value according to a current appraisal made by a real estate appraiser who is a member in good standing of a nationally recognized professional appraiser society or trade organization that has an established code of ethics, educational program, and professional certification program; or
(B) value according to a statement from the county from the county's most recent certified tax appraisal roll;
(4) a statement by the applicant that, while the property remains in trust, the applicant:
(A) agrees to pay the taxes on the property;
(B) will not further encumber the property unless the applicant notifies the board of the applicant's intent to encumber the property and the board permits the encumbrance; and
(C) agrees to maintain insurance on any improvements on the property against damage or destruction in the full amount of the value claimed for the improvements;
(5) a statement of whether the applicant is married; and
(6) if the applicant is married, a sworn statement from the applicant's spouse agreeing to transfer to the board, as a part of the trust, any right, title, or interest that the spouse may have in the property.
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1262, Sec. 5, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 942, Sec. 16, eff. June 20, 2003.

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