Tex.
Nat. Resources Code Section 161.511
Time Limit on Transfer of Land
(a)
Except as provided by Subsection (c), a recipient of a loan may not lease, sell, or otherwise transfer in whole or part land or any interest in land against which there is a mortgage, deed of trust, or any other lien securing the loan:(1)
before the third anniversary of the date the recipient purchases the land; and(2)
unless the recipient has complied with any other terms and conditions provided by this subchapter and the rules of the board.(b)
After the three-year period prescribed by Subsection (a), land may be sold or otherwise transferred, subject to any lien securing a loan, if:(1)
all interest, principal, and taxes that are due have been paid;(2)
the terms and conditions of this subchapter and rules of the board have been met; and(3)
the board approves the sale or other transfer.(c)
The board may waive the three-year period prescribed by Subsection (a):(1)
in a case of death, bankruptcy, financial incapacity, or divorce of the loan recipient;(2)
if a loan recipient is forced to move because of a change in employment or because the recipient’s home is condemned through no fault of the recipient; or(3)
at any other time the board considers a waiver to be in the best interest of the program.
Source:
Section 161.511 — Time Limit on Transfer of Land, https://statutes.capitol.texas.gov/Docs/NR/htm/NR.161.htm#161.511 (accessed May 26, 2025).
