Tex. Loc. Gov't Code § 379H.156 · Subchapter D. ACQUISITION AND DISPOSITION OF PROPERTY
REDEMPTION BY OWNER OF FORECLOSED PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The owner of real property sold to a land bank under Section 379H.155 may redeem the property in the manner prescribed for owners of real property sold at a tax sale to a purchaser other than a taxing unit under Section 34.21, Tax Code.
(b) The price to be paid by the owner of real property sold to a land bank under this section to redeem the property shall be in the amounts set forth in Sections 34.21(a) and (e), Tax Code. For the purposes of calculating the price, the bid paid by the land bank shall be the aggregate amount of the land bank's bid as described by Section 379H.155(b).
(c) If the owner of real property sold to a land bank under Section 379H.155 redeems the property by paying to the land bank the full amount required to redeem as set forth in Sections 34.21(a) and (e), Tax Code, the land bank shall:
(1) retain an amount equal to the amount paid in cash by the land bank in accordance with Section 379H.155;
(2) retain any redemption premium and any reasonable costs the land bank may have expended on maintenance or environmental remediation of the property being redeemed; and
(3) remit to the county assessor-collector any remaining amounts to be distributed among the taxing units that were parties to the judgment of foreclosure in an amount equal to the proportion of each taxing unit's taxes, penalties, and interest due in accordance with the judgment of foreclosure.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 780 (S.B. 1679), Sec. 1, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.379H.htm
- Text hash
- sha256 c221926237b6f8e19ff3d3d122012be58e761536ff8c990af05ec1989938df1a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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