H.B. No. 4211 introduces Chapter 223 to the Property Code, focusing on business entity-owned residential arrangements. The bill defines key terms such as "business entity," "managing entity," "residential arrangement," and "residential property." It establishes that agreements for purchasing interests in managing entities must clarify that the purchase is for an interest in the entity rather than the residential property itself. Additionally, it prohibits managing entities from imposing restrictions on the transfer of interests, charging fees for transfers, and engaging in discriminatory practices that would violate existing property laws.

Furthermore, the bill amends Section 301.042 of the Property Code to exempt certain sales, rentals, or occupancy of residential properties (single-family houses, duplexes, triplexes, or quadruplexes) located on large parcels of land owned by religious organizations or nonprofit institutions from specific regulations. The act will take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that threshold is not met.

Statutes affected:
Introduced: Property Code 301.042 (Property Code 301)
House Committee Report: (Property Code 301)
Engrossed: Property Code 301.042 (Property Code 301)
Senate Committee Report: Property Code 301.042 (Property Code 301)
Enrolled: Property Code 301.042 (Property Code 301)