Bill Text: TX HB1939 | 2021-2022 | 87th Legislature | Enrolled
Bill Title: Relating to the limitations periods for certain suits against real estate appraisers and appraisal firms.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2021-06-07 - Effective on 9/1/21 [HB1939 Detail]
Download: Texas-2021-HB1939-Enrolled.html
H.B. No. 1939 |
|
||
relating to the limitations periods for certain suits against real | ||
estate appraisers and appraisal firms. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter A, Chapter 16, Civil Practice and | ||
Remedies Code, is amended by adding Section 16.013 to read as | ||
follows: | ||
Sec. 16.013. REAL ESTATE APPRAISERS AND APPRAISAL FIRMS. | ||
(a) In this section: | ||
(1) "Appraisal" has the meaning assigned by Section | ||
1103.003, Occupations Code. | ||
(2) "Appraisal review" has the meaning assigned by | ||
Section 1104.003, Occupations Code. | ||
(3) "Real estate appraisal firm" means an entity | ||
engaging a real estate appraiser as an owner, member, shareholder, | ||
partner, employee, or independent contractor to perform an | ||
appraisal or appraisal review. | ||
(4) "Real estate appraiser" means an individual | ||
licensed or certified under Chapter 1103, Occupations Code. | ||
(b) Except for an action for fraud or breach of contract, a | ||
person must bring suit for damages or other relief arising from an | ||
appraisal or appraisal review conducted by a real estate appraiser | ||
or appraisal firm not later than the earlier of: | ||
(1) two years after the day the person knew or should | ||
have known the facts on which the action is based; or | ||
(2) five years after the day the appraisal or | ||
appraisal review was completed. | ||
SECTION 2. Section 16.013, Civil Practice and Remedies | ||
Code, as added by this Act, applies only to a cause of action that | ||
accrues on or after the effective date of this Act. | ||
SECTION 3. This Act takes effect September 1, 2021. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 1939 was passed by the House on April | ||
23, 2021, by the following vote: Yeas 128, Nays 18, 2 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 1939 was passed by the Senate on May | ||
19, 2021, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |