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Texas Natural Resources Code

§ 161.505 — SECURITY FOR LOAN

NR § 161.505Title 7. RESOURCES PROGRAMS · Ch. 161. VETERANS LAND BOARD · Art. K. LAND LOANS

Statute text

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A disbursement of money on a loan may not be made unless the loan is secured by a mortgage, deed of trust, or other lien on the land purchased with the proceeds of the loan. A mortgage, deed of trust, or other lien may be a participation in a lien securing any other loan for the purchase of the property, including a lien securing a home loan under Chapter 162.

Legislative history

Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.

Source: Texas Natural Resources Code § 161.505 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.