REAL PROPERTY LIST

A list of nonexempt real property required under Section 1704.154(b)(3) must, for each parcel listed, include: (1) a legal description of the property that would be sufficient to convey the property by general warranty deed; (2) a current statement from each taxing unit authorized to impose taxes on the property showing that there is no outstanding tax lien against the property; (3) at the option of the applicant, either the property's: (A) net value according to a current appraisal made by a real estate appraiser who is a member in good standing of a nationally recognized professional appraiser society or trade organization that has an established code of ethics, educational program, and professional certification program; or (B) value according to a statement from the county from the county's most recent certified tax appraisal roll; (4) a statement by the applicant that, while the property remains in trust, the applicant: (A) agrees to pay the taxes on the property; (B) will not further encumber the property unless the applicant notifies the board of the applicant's intent to encumber the property and the board permits the encumbrance; and (C) agrees to maintain insurance on any improvements on the property against damage or destruction in the full amount of the value claimed for the improvements; (5) a statement of whether the applicant is married; and (6) if the applicant is married, a sworn statement from the applicant's spouse agreeing to transfer to the board, as a part of the trust, any right, title, or interest that the spouse may have in the property.