Tex. Nat. Res. Code § 161.222 · Subchapter F. PURCHASE, SALE, AND OTHER DISPOSITION OF LAND
PURCHASE PAYMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The purchaser shall make an initial payment in an amount set by the board's rules for land sold under this chapter.
(b) The balance of the selling price shall be amortized over a period determined by the board not to exceed 40 years together with interest at a fixed, variable, floating, or other rate or rates determined by the board.
(c) The purchaser is entitled to pay any or all installments still remaining unpaid on any installment date.
(d) In an individual case, the board may postpone for good cause the payment of the whole or any part of an installment of the selling price or interest on the selling price on terms the board considers proper.
Notes and commentary — not statutory text
History
Acts 1977, 65th Leg., p. 2667, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1979, 66th Leg., p. 1898, ch. 768, Sec. 1, eff. June 13, 1979; Acts 1985, 69th Leg., ch. 798, Sec. 10, 20, eff. Sept. 1, 1985; Acts 1993, 73rd Leg., ch. 242, Sec. 1.25, eff. Aug. 30, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/NR/htm/NR.161.htm
- Text hash
- sha256 5484fbfe2ac356a72518101fd5d9f4304884b2b16bbccde562263263d34f4d65
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Nat. Res. Code § 161.222. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.