(a) In this section:
(1) "Entity" means a domestic or foreign:
(A) corporation, professional corporation, or professional association;
(B) limited liability company or professional limited liability company; or
(C) limited partnership.
(2) "Parcel" means one or more parcels.
(b) The conveyance of a parcel not meeting the definition of an urban homestead under Section 41.002(a) or (c) by an individual to an entity in which the individual or individual's spouse has a direct or indirect ownership interest is not a sham or pretended sale, including a pretended sale under Section 50(c), Article XVI, Texas Constitution, if:
(1) the deed conveying the parcel is recorded at least 30 days before the entity grants a mortgage, trust deed, or other lien on the parcel;
(2) the individual does not reside on the parcel at the time of the conveyance;
(3) the parcel is not contiguous to the parcel on which the individual resides;
(4) the deed conveying the parcel does not contain a condition of defeasance; and
(5) the individual recorded contemporaneously with the deed an affidavit substantially in the form prescribed by Subsection (d).
(c) An individual executing a deed under Subsection (b) is estopped from claiming that:
(1) the conveyance is a sham or pretended sale, including a pretended sale under Section 50(c), Article XVI, Texas Constitution; or
(2) the individual had not abandoned homestead rights, if any, in the parcel by executing the deed.
(d) At the time of recording a deed under Subsection (b), an individual grantor of the deed shall record an affidavit containing the following:
(1) a title caption stating "Affidavit Regarding Conveyance To An Entity";
(2) the date of the affidavit;
(3) a description of the deed containing:
(A) the title of the deed;
(B) the date of the deed;
(C) the name and address of the individual grantor; and
(D) the name and address of the entity grantee;
(4) a description of the parcel being conveyed to the entity;
(5) a description of the parcel upon which the individual currently resides;
(6) a statement that the parcel being conveyed is not contiguous to the parcel upon which the individual currently resides;
(7) a statement that the parcel upon which the individual currently resides is not:
(A) located within the limits of a municipality or its extraterritorial jurisdiction or a platted subdivision; or
(B) served by police protection, paid or volunteer fire protection, and at least three of the following services provided by a municipality or under contract to a municipality:
(i) electric;
(ii) natural gas;
(iii) sewer;
(iv) storm sewer; or
(v) water;
(8) a statement that:
(A) the individual is unmarried; or
(B) the individual is married, and including the name of the individual's spouse;
(9) a statement that the individual or individual's spouse owns a direct or indirect interest in the entity;
(10) a statement that the individual has executed the deed conveying the parcel to the entity;
(11) a statement that the individual intends to vest title in the entity;
(12) a statement that there are no written or oral agreements regarding a defeasance of the parcel upon the passage of time or occurrence or non-occurrence of any event;
(13) a statement that the individual acknowledges that the individual will be estopped from claiming the conveyance to the entity is a sham or pretended sale, including a pretended sale under Section 50(c), Article XVI, Texas Constitution;
(14) a statement that the individual acknowledges that the individual will be estopped from claiming the individual had not abandoned homestead rights, if any, in the parcel by executing the deed;
(15) a statement that the individual understands that if the parcel is valued for ad valorem tax purposes as qualified open-space land, the entity must reapply in its own name by the applicable filing deadline; and
(16) a statement that the individual has had an opportunity:
(A) to review the affidavit prior to the affidavit's execution; and
(B) to consult with an attorney before the affidavit's execution, whether or not the opportunity to consult with an attorney was exercised.
(e) If the individual conveying a parcel under Subsection (b) is married, the individual's spouse must join in the execution of:
(1) the deed; and
(2) the affidavit described by Subsection (d).
(f) The entity or a lender for value may conclusively rely on an affidavit described by Subsection (d).
(g) Notwithstanding any other provision of this section, a transaction that does not meet the requirements of this section is not invalid if the homestead has been abandoned or disclaimed as provided by other provisions of law.