Tex. Transp. Code § 224.007 · Subchapter A. ACQUISITION GENERALLY
PURCHASE OF LEASE RIGHTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Before acquiring property under this subchapter, the department may purchase the right to lease the property to a third party.
(b) The department may make a purchase under Subsection (a) only if the department first determines that the owner is unable to lease or rent the property because of the impending acquisition by the department.
(c) The consideration for the purchase of a lease right under this section may not exceed the fair market rental value of the property as determined by the department and shall be credited against the total compensation due the owner when the department acquires the property.
(d) Payment under this section may be made in periodic increments until the property is acquired by the department. The aggregate total of payments before acquisition may not exceed the department's appraised value of the property.
(e) This section shall be implemented in accordance with applicable administrative rules and policies of the department.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.224.htm
- Text hash
- sha256 836b92a7706e6f10ee99fa918a22554740d7ecdf800c0a92b2a06e31ca73aab3
- 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
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.