Texas Tax Code

§ 34.06 — DISTRIBUTION OF PROCEEDS OF RESALE

TX § 34.06Title 1. PROPERTY TAX CODE · Part E. COLLECTIONS AND DELINQUENCY · Ch. 34. TAX SALES AND REDEMPTION · Art. A. TAX SALES

Statute text

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(a)The proceeds of a resale of property purchased by a taxing unit at a tax foreclosure sale shall be paid to the purchasing taxing unit.

(b)The proceeds of the resale shall be distributed as required by Subsections (c)-(e).

(c)The purchasing taxing unit shall first retain an amount from the proceeds to reimburse the unit for reasonable costs, as defined by Section 34.21, incurred by the unit for:

(1)maintaining, preserving, and safekeeping the property;

(2)marketing the property for resale; and

(3)costs described by Subsection (f).

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Legislative history

Acts 2025, 89th Leg., R.S., Ch. 986 (S.B. 766), Sec. 55, eff. September 1, 2025.