Texas Natural Resources Code

Sec. § 161.233
Down Payment


(a)

The sale price of land sold under Sections 161.175 (Use of Fund to Pay Expenses Related to the Land) and 161.231 (Subdividing Land), 161.232 (Conditions for Sale of Land), and 161.234 (Sale to Other Purchasers) of this code may include the addition of the expenses and fees in Sections 161.069 (Fees), 161.070 (Additional Fees), and 161.175 (Use of Fund to Pay Expenses Related to the Land) of this code. Provided, however, no tract may be sold under Sections 161.175 (Use of Fund to Pay Expenses Related to the Land) and 161.231 (Subdividing Land), 161.232 (Conditions for Sale of Land), and 161.234 (Sale to Other Purchasers) of this code at a price exceeding $40,000 unless the veteran pays the board in cash, in accordance with its rules, a down payment equal to that portion of the sale price in excess of $40,000. This down payment shall be in addition to the initial payment required by Section 161.222 (Purchase Payments) of this code and shall be paid not later than the sale date.

(b)

If the sale is not consummated, the down payment shall be refunded to the veteran.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1979, 66th Leg., p. 1899, ch. 768, Sec. 2, eff. June 13, 1979; Acts 1985, 69th Leg., ch. 798, Sec. 11, eff. Sept. 1, 1985; Acts 1991, 72nd Leg., ch. 160, Sec. 1, eff. Aug. 26, 1991.
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Last accessed
Jun. 7, 2021