Tex.
Gov't Code Section 2306.174
Acquisition and Disposition of Property
(1)
acquire, own, rent, lease, accept, hold, or dispose of any real, personal, or mixed property, or any interest in property, including a right or easement, in performing its duties and exercising its powers under this chapter, by purchase, exchange, gift, assignment, transfer, foreclosure, sale, lease, or otherwise;(2)
hold, manage, operate, or improve real, personal, or mixed property, except that:(A)
the department is restricted in acquiring property under Section 2306.251 (Property Ownership Program) unless it is required to foreclose on a delinquent loan and elects to acquire the property at foreclosure;(B)
the department shall make a diligent effort to sell a housing development acquired through foreclosure to a purchaser who will be required to pay ad valorem taxes on the housing development or, if such a purchaser cannot be found, to another purchaser; and(C)
the department shall sell a housing development acquired through foreclosure not later than the third anniversary of the date of acquisition unless the board adopts a resolution stating that a purchaser cannot be found after diligent search by the housing finance division, in which case the department shall continue to try to find a purchaser and shall sell the housing development when a purchaser is found; and(3)
lease or rent land or a dwelling, house, accommodation, building, structure, or facility from a private party to carry out the housing finance division’s purposes.
Source:
Section 2306.174 — Acquisition and Disposition of Property, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm#2306.174 (accessed Jun. 5, 2024).
