Texas Natural Resources Code

§ 161.511 — TIME LIMIT ON TRANSFER OF LAND

NR § 161.511Title 7. RESOURCES PROGRAMS · Ch. 161. VETERANS LAND BOARD · Art. K. LAND LOANS

Statute text

(a)Except as provided by Subsection (c), a recipient of a loan may not lease, sell, or otherwise transfer in whole or part land or any interest in land against which there is a mortgage, deed of trust, or any other lien securing the loan:

(1)before the third anniversary of the date the recipient purchases the land; and

(2)unless the recipient has complied with any other terms and conditions provided by this subchapter and the rules of the board.

(b)After the three-year period prescribed by Subsection (a), land may be sold or otherwise transferred, subject to any lien securing a loan, if:

(1)all interest, principal, and taxes that are due have been paid;

(2)the terms and conditions of this subchapter and rules of the board have been met; and

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Legislative history

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