88R3063 ATP-D     By: Hinojosa H.B. No. 1057       A BILL TO BE ENTITLED   AN ACT   relating to restrictions on the purchase of a single-family home by   an investment firm.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter A, Chapter 5, Property Code, is   amended by adding Section 5.0155 to read as follows:          Sec. 5.0155.  LIMITATION ON CERTAIN PURCHASERS. (a) In this   section, "investment firm" means a corporation or trust engaged in   the business of investing the pooled capital of investors in   financial securities.          (b)  An investment firm may not enter into an executory   contract to purchase a single-family home that is listed for sale   before the 30th day after the date the home is listed.          (c)  A contract entered into in violation of this section is   voidable by the seller at any time before the contract is fully   executed.          SECTION 2.  Section 5.0155, Property Code, as added by this   Act, applies only to an executory contract entered into on or after   the effective date of this Act.          SECTION 3.  This Act takes effect September 1, 2023.