Tex. Spec. Dist. Local Laws Code § 8501.264 · Subchapter F. OBLIGATIONS RELATING TO BORROWED MONEY
SALE UNDER MORTGAGE OR ENCUMBRANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Under a sale ordered under a mortgage or encumbrance described by Section 8501.263, a purchaser of the improvements, facilities, and other property at the sale, and the purchaser's successors or assigns, are vested with a permit and franchise to maintain and operate the improvements, facilities, and other property with powers and privileges like those held by the authority in the operation of the improvements, facilities, and other property.
(b) Instead of operating the improvements, facilities, and other property as provided by Subsection (a), the purchaser and the purchaser's successors or assigns may remove all or part of the improvements, facilities, and other property for diversion to other purposes.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8501.htm
- Text hash
- sha256 5e1ef8500efb38b925d7cbc185f35549ed96dd426bbc379c167df48ff2c20a52
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.