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TITLE 7BANKING AND SECURITIES
PART 8JOINT FINANCIAL REGULATORY AGENCIES
CHAPTER 152REPAIR, RENOVATION, AND NEW CONSTRUCTION ON HOMESTEAD PROPERTY
RULE §152.5Requirements for Work and Material Used to Repair or Renovate: Section 50(a)(5)(A) - (D)

(a) Section 50(a)(5)(A) - (D) applies only to contracts and applications for work and material used to repair or renovate existing improvements.

(b) If debt is incurred for work and material used to repair or renovate existing improvements and the requirements of Section 50(a)(5)(A) - (D) have been met, a lien is established on the homestead of a family, or of a single adult person, and it is not protected by Section 50 from forced sale for the payment of the debt.

(c) If the application and contract are for both work and material used to repair or renovate existing improvements and for work and material used in constructing new improvements, the entire transaction is considered a contract to repair and renovate existing improvements and compliance with the constitutional requirements of Section 50(a)(5)(A) - (D) is required to establish a lien on the homestead.


Source Note: The provisions of this §152.5 adopted to be effective July 7, 2005, 30 TexReg 3863

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