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Texas Local Government Code

§ 253.014 — BROKER AGREEMENTS AND FEES FOR SALE OF REAL PROPERTY BY HOME-RULE MUNICIPALITY

LG § 253.014Title 8. ACQUISITION, SALE, OR LEASE OF PROPERTY · Part A. MUNICIPAL ACQUISITION, SALE, OR LEASE OF PROPERTY · Ch. 253. SALE OR LEASE OF PROPERTY BY MUNICIPALITIES

Statute text

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(a)In this section, "broker" means a person licensed as a broker under Chapter 1101, Occupations Code.
(b)The governing body of a home-rule municipality may contract with a broker to sell a tract of real property that the municipality:
(1)owns; or
(2)holds in trust and has the authority to sell.
(c)The governing body may pay a fee if a broker produces a ready, willing, and able buyer to purchase a tract of real property.
(d)If a contract is made under Subsection (b) with a broker to list the tract of real property for sale for at least 30 days with a multiple-listing service, the governing body on or after the 30th day after the date the property is listed may sell the tract of real property to a ready, willing, and able buyer who is produced by any broker using the multiple-listing service and who submits the highest cash offer.
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Legislative history

Acts 2015, 84th Leg., R.S., Ch. 1110 (H.B. 3244), Sec. 1, eff. June 19, 2015.

Source: Texas Local Government Code § 253.014 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.