Tex.
Local Gov't Code Section 379H.154
Acquisition of Property Generally
(a)
A land bank may acquire real property by gift, devise, transfer, exchange, foreclosure, purchase, purchase contracts, lease purchase agreements, installment sales contracts, land contracts, or transfers from a municipality on terms as agreed by the land bank and the municipality, or through any other means on terms and in a manner the land bank considers appropriate.(b)
Notwithstanding any other law to the contrary, a municipality served by a land bank or a non-qualifying municipality that has entered into an interlocal contract with a land bank under Section 379H.104 (Interlocal Contracts) may transfer to the land bank real property of the municipality or non-qualifying municipality on terms and according to procedures determined by the municipality or non-qualifying municipality.(c)
A land bank may acquire real property from this state, the municipality served by the land bank, the county in which that municipality is located, a governmental entity within the county, the federal government, or an agency or department of the federal government.(d)
A land bank shall maintain all of its real property in accordance with the laws and ordinances of the jurisdiction in which the real property is located.
Source:
Section 379H.154 — Acquisition of Property Generally, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.379H.htm#379H.154 (accessed Jun. 5, 2024).
