reglab/statecodes huggingface dataset:
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.221. Initiation of Sale

Sec. 161.221.  INITIATION OF SALE.  The sale of land by the board may be properly initiated by contract of sale and purchase, and the contract shall be recorded in the deed records in the county in which the land is located.
Acts 1977, 65th Leg., p. 2667, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.222. Purchase Payments

Sec. 161.222.  PURCHASE PAYMENTS.  (a)  The purchaser shall make an initial payment in an amount set by the board's rules for land sold under this chapter.
(b)  The balance of the selling price shall be amortized over a period determined by the board not to exceed 40 years together with interest at a fixed, variable, floating, or other rate or rates determined by the board.
(c)  The purchaser is entitled to pay any or all installments still remaining unpaid on any installment date.
(d)  In an individual case, the board may postpone for good cause the payment of the whole or any part of an installment of the selling price or interest on the selling price on terms the board considers proper.
Acts 1977, 65th Leg., p. 2667, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1979, 66th Leg., p. 1898, ch. 768, Sec. 1, eff. June 13, 1979;  Acts 1985, 69th Leg., ch. 798, Sec. 10, 20, eff. Sept. 1, 1985;  Acts 1993, 73rd Leg., ch. 242, Sec. 1.25, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.223. Board to Specify Terms

Sec. 161.223.  BOARD TO SPECIFY TERMS.  The board may specify in each individual case the terms of the contract entered into with the purchaser as long as they are not contrary to the provisions of this chapter.
Acts 1977, 65th Leg., p. 2667, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.224. Time Limit on Transfer

Sec. 161.224.  TIME LIMIT ON TRANSFER.  (a)  No property sold under this chapter may be transferred, sold, or conveyed in whole or part until the original veteran purchaser has enjoyed possession for a period of three years from the date of purchase of the property and complied with the terms and conditions of this chapter and rules of the board.
(b)  If the veteran purchaser dies or becomes financially incapacitated or if there is an involuntary transfer by court order or proceedings including bankruptcy, sheriff or trustee sale, or divorce, the property may be conveyed before the expiration of the three-year period by the purchaser or his heirs, administrators, or executors by complying with rules of the board and by securing the approval of the board.
(c)  After the three-year period, a purchaser may transfer, sell, or convey land purchased under this chapter at any time if all mature interest, principal, and taxes have been paid, the terms and conditions of this chapter and rules of the board have been met, and the approval of the board has been obtained.
Acts 1977, 65th Leg., p. 2667, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.225. Sale to a Nonveteran

Sec. 161.225.  SALE TO A NONVETERAN.  If the sale is made to a person other than a qualified Texas veteran, the assignee and all subsequent assignees shall assume an interest rate on the indebtedness to the board determined by the board at an amount not less than one percent a year greater than the rate determined by the board for sale to veterans under Sections 161.175 and 161.231 through 161.234 of this code or Subchapter G of this chapter  on the date on which the transfer, sale, or conveyance is approved.  If the purchase contract is awarded in a divorce action or incident to a written separation agreement, the interest rate shall not change.
Acts 1977, 65th Leg., p. 2667, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.226. Disposition of Land That Is Paid For

Sec. 161.226.  DISPOSITION OF LAND THAT IS PAID FOR.  Property sold under this chapter may be transferred, sold, or conveyed at any time after the entire indebtedness due to the board has been paid.
Acts 1977, 65th Leg., p. 2668, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.227. Lease of Land

Sec. 161.227.  LEASE OF LAND.  (a)  No land purchased under this chapter may be leased by the purchaser for a term of more than 10 years except as follows:
(1)  leases for oil, gas, and other minerals may be for a term of not more than 10 years, and as long thereafter as such oil, gas, and other minerals are produced from the land in commercial quantities;
(2)  leases for coal and lignite may be for a term of not more than 40 years, and as long thereafter as such coal and lignite are produced from the land in commercial quantities;  and
(3)  leases, whether referred to as leases, licenses, or easements, for microwave, radio, or other communication towers, may be for a term of not more than 50 years.
(b)  No lease may contain a provision for option or renewal of the lease or re-lease of the property for any term which would cause the entire fixed term of such lease or leases to exceed the applicable maximum fixed term set forth in Subsection (a)(1), (2), or (3) above, and the taking of any such option, renewal, or re-lease agreement in a separate instrument to take effect in the future is prohibited.  A lease or instrument that contains an option, renewal, or re-lease agreement in violation of this section is expressly declared to be void.
Acts 1977, 65th Leg., p. 2668, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1981, 67th Leg., p. 3080, ch. 812, Sec. 1, eff. June 17, 1981;  Acts 2003, 78th Leg., ch. 674, Sec. 3, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.228. Conditions of Leases

Sec. 161.228.  CONDITIONS OF LEASES.  While the veteran is indebted to the board for land purchased, if he executes or there exists a lease or contract of sale of oil, gas, or other minerals, chemicals, or hard metals or a lease or contract of sale for timber, sand, gravel, or other materials that covers all or part of the land and that would result in the depletion of the corpus of the tract, at least one-half of all bonus money, delay rentals, and royalties received as consideration for or payment under the oil, gas, and mineral lease and at least one-half of all money received under a lease or contract of sale of any other minerals, chemicals, hard metals, timber, sand, gravel, and other materials or as much as is required, shall be paid to the board by the owner of the lease or contract of sale and applied by the board to the satisfaction of the indebtedness.
Acts 1977, 65th Leg., p. 2668, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1981, 67th Leg., p. 3080, ch. 812, Sec. 2, eff. June 17, 1981.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.229. Deeds

Sec. 161.229.  DEEDS.  (a)  When the entire indebtedness due the state under the contract of sale is paid, the chairman of the board shall execute a deed under seal to the original purchaser of the land or to the last assignee whose assignment has been approved by the board.
(b)  None of the provisions of this chapter shall be construed to prohibit the board from accepting full payment for a portion of a tract and issuing a deed to the land according to the rules of the board.
(c)  Deeds issued by the board and executed by the chairman under seal are ratified, confirmed, and validated whether they convey all or only a part of the land contracted to be sold to the veteran.
(d)  If a deed is executed to a person other than the legal owner or to a deceased grantee, the deed and the rights conveyed still inure to the benefit of the legal owner.
Acts 1977, 65th Leg., p. 2668, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.230. Death of Purchaser

Sec. 161.230.  DEATH OF PURCHASER.  (a)  If the purchaser of the land dies while indebted to the board under a contract, his rights, acquired under this chapter and the contract devolve on his heirs, devisees, or personal representatives under the laws of this state, but subject to all rights, claims, and charges of the board.
(b)  Default by an heir, devisee, or personal representative with respect to a right, claim, or charge of the board has the same effect as default by the purchaser before his death.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.231. Subdividing Land

Sec. 161.231.  SUBDIVIDING LAND.  Land acquired by the board may be subdivided for sale into tracts of the size the board may consider advisable.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.232. Conditions for Sale of Land

Sec. 161.232.  CONDITIONS FOR SALE OF LAND.  Land acquired and subdivided under Sections 161.175, 161.231, 161.233, and 161.234 of this code shall be offered for sale according to rules adopted by the board and shall be sold by the board to veterans qualified to participate in the program in conformity with the provisions of this chapter relating to the sale of land purchased generally by the board.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.233. Down Payment

Sec. 161.233.  DOWN PAYMENT.  (a)  The sale price of land sold under Sections 161.175 and 161.231, 161.232, and 161.234 of this code may include the addition of the expenses and fees in Sections 161.069, 161.070, and 161.175 of this code.  Provided, however, no tract may be sold under Sections 161.175 and 161.231, 161.232, and 161.234 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 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.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.234. Sale to Other Purchasers

Sec. 161.234.  SALE TO OTHER PURCHASERS.  The provisions of Sections 161.175 and 161.231 through 161.233 of this code notwithstanding, land acquired and subdivided under these sections that has first been offered for sale to veterans and that has not been sold to the purchasers may be sold to any purchaser in the same manner as land forfeited under this chapter.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.235. Rights of Surviving Spouse

Sec. 161.235.  RIGHTS OF SURVIVING SPOUSE.  If an eligible Texas veteran dies after he has filed with the board an application and contract of sale to purchase through the board the tract selected by him or her and before the purchase is completed, the surviving spouse of the veteran may complete the transaction.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.236. Number of Tracts Purchased

Sec. 161.236.  NUMBER OF TRACTS PURCHASED.  The board may promulgate rules to determine the number of tracts of land that a veteran may purchase under this chapter.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1999, 76th Leg., ch. 133, Sec. 1, eff. May 20, 1999.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.237. Exemption From Certain Real Estate Transaction Laws

Sec. 161.237.  EXEMPTION FROM CERTAIN REAL ESTATE TRANSACTION LAWS.  (a)  Unless the statute specifically states that the statute applies to the board, the following statutes do not apply to the board:
(1)  a statute that would require the board to provide a notice or disclosure to a buyer of real property; and
(2)  a statute relating to the sale, purchase, or financing of real property by an executory contract, including a contract for deed or other similar sale.
(b)  This section does not affect the application of a statute described by Subsection (a)(2) to a party involved in a transaction with the board.
Added by Acts 2007, 80th Leg., R.S., Ch. 234 (H.B. 1853), Sec. 3, eff. May 25, 2007.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.281. Selection of Land

Sec. 161.281.  SELECTION OF LAND.  (a)  If a veteran desires a particular tract of land located in this state, on proper showing of eligibility to benefits under this chapter, he may be authorized by the board to select the land that he desires and submit his selection to the board on its prescribed form.
(b)  The board shall establish a procedure that requires the veteran to personally inspect the tract he has selected.  The board may by rule waive the inspection requirement.  If the board grants the veteran's request for a waiver, the veteran must designate in writing a personal representative who will inspect the tract for him.  The veteran's representative shall submit to the board an affidavit stating that he has inspected the tract the veteran selected.
(c)  In order to respond to market conditions, the board may from time to time by rule set the minimum acreage that a veteran may purchase.  However, the board may not set the minimum acreage at less than one acre.
Acts 1977, 65th Leg., p. 2669, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 12, eff. Sept. 1, 1985;  Acts 2003, 78th Leg., ch. 674, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.282. Processing Applications

Sec. 161.282.  PROCESSING APPLICATIONS.  As far as practical, applications shall be processed in the order in which they are received by the board.
Acts 1977, 65th Leg., p. 2670, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.283. Purchase by Board

Sec. 161.283.  PURCHASE BY BOARD.  (a)  If the board is satisfied with the value and desirability of the property selected by the veteran, it may purchase the land from its owner on the agreed terms.
(b)  The board shall pay not more than $60,000 for the property, but may pay more if the veteran pays to the board or the board's designee in cash, in accordance with its rules, that portion of the purchase price in excess of the amount that the board agrees to pay.  The amount shall be paid not later than the date on which the board acquires title to the property.
(c)  A cash payment by the veteran is considered a down payment on the price of the land when sold to the veteran by the board and is in addition to the initial payment required by Section 161.222 of this code.
Acts 1977, 65th Leg., p. 2670, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1979, 66th Leg., p. 1899, ch. 768, Sec. 3, eff. June 13, 1979;  Acts 1991, 72nd Leg., ch. 160, Sec. 2, eff. Aug. 26, 1991;  Acts 2003, 78th Leg., ch. 674, Sec. 5, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.284. Appraisal and Title

Sec. 161.284.  APPRAISAL AND TITLE.  The board shall have an appraisal of the property made as it considers necessary to determine the value and, before consummating the purchase, shall satisfy itself regarding the title as provided in Section 161.214 of this code.  The board may by rule require an on-site meeting between the appraiser and the veteran.
Acts 1977, 65th Leg., p. 2670, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 13, eff. Sept. 1, 1985.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.285. Separate Transactions

Sec. 161.285.  SEPARATE TRANSACTIONS.  (a)  No transaction under this chapter may be considered together with any other transaction to constitute a block deal between the state and two or more veteran purchasers, and each tract of land is considered as a wholly separate entity without dependence on any other tract of land, substance, matter, person, or thing in determining its value, purchase, or sale under this chapter.
(b)  None of the provisions of this chapter may be construed to prevent the purchase or sale or both of contiguous tracts of land to separate purchasers as long as the value of the land is determined in the manner provided in Section 161.284 of this code.
Acts 1977, 65th Leg., p. 2670, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.286. Purchase Preference

Sec. 161.286.  PURCHASE PREFERENCE.  (a)  The property acquired by the board becomes a part of the fund, but the veteran who has selected the land has a preference right to purchase the land from the board.
(b)  To be entitled to the preference right, the veteran shall agree in writing before the board purchases the land to purchase the land from the board for the price paid for it.
(c)  If the veteran fails or refuses to exercise the preference right, the land may be sold by the board in the same manner provided for the sale of land forfeited under this chapter.
Acts 1977, 65th Leg., p. 2670, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.287. Rules Governing Sale

Sec. 161.287.  RULES GOVERNING SALE.  The rules governing the sale of land under this subchapter are governed by the provisions of this chapter relating to sale of land generally by the board except where those provisions conflict with this subchapter.
Acts 1977, 65th Leg., p. 2670, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter G. Purchase and Sale of Selected Land › Section 161.288. Refund

Sec. 161.288.  REFUND.  If the title to the land is not approved and accepted by the board, any amount paid to the board or the board's designee in excess of the amount that the board agreed to pay for the selected land shall be refunded to the veteran together with any other down payment remitted to the board.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 6, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.311. Board Judge of Forfeiture

Sec. 161.311.  BOARD JUDGE OF FORFEITURE.  The board is the sole judge of forfeiture of any purchase contract under this chapter and any person availing himself of the provisions of this chapter by so doing agrees to abide by this chapter.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.312. Forfeiture by Board

Sec. 161.312.  FORFEITURE BY BOARD.  (a)  If a portion of the principal of or interest on any sale is not paid when due, or if the provisions of this chapter, the contract, or the rules of the board are not complied with, the contract of sale and purchase is subject to forfeiture by action of the board on 30 days written notice to the original purchaser and his vendee.
(b)  The notice shall state the reason why the contract of sale and purchase is subject to forfeiture and is sufficient if given by certified mail to the last known address of the original purchaser and his vendees.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1999, 76th Leg., ch. 134, Sec. 3, eff. May 20, 1999.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.313. Correction of Reason for Forfeiture

Sec. 161.313.  CORRECTION OF REASON FOR FORFEITURE.  If the person corrects or cures the reason for forfeiture within the 30-day notice period, the board shall not enter an order of forfeiture.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.314. Time of Forfeiture

Sec. 161.314.  TIME OF FORFEITURE.  The forfeiture is effective at the time the board meets and adopts a resolution directing its chairman to endorse on the wrapper that contains the papers of the sale or on the purchase contract filed in the land office the word "forfeited" or words of similar import and the date of the action and to officially sign the document.  At that time, the land and all payments previously made are forfeited.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.315. Notice to County Clerk

Sec. 161.315.  NOTICE TO COUNTY CLERK.  Notice of the board's action in forfeiting the original contract shall be mailed to the county clerk of the county in which the land is located and the clerk shall:
(1)  enter a notation of the forfeiture on the margin of the page or pages containing the record of the original contract;  or
(2)  record the notice of forfeiture.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 7, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.316. Effect of Forfeiture on Leases

Sec. 161.316.  EFFECT OF FORFEITURE ON LEASES.  On forfeiture, the full title to the land, including both surface and mineral estates, shall revest in the board, and the board shall recognize and continue in force and effect any outstanding valid oil, gas, or mineral lease and collect all rentals, royalties, or other amounts payable under the lease.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.317. Reinstatement of Purchase

Sec. 161.317.  REINSTATEMENT OF PURCHASE.  (a)  If a sale is forfeited and the title to the land revested in the fund, the original purchaser or the original purchaser's vendee is entitled to reinstate the purchase contract at any time before the date on which the board meets and orders the land to be advertised for resale or for lease for mineral development but not after that time.  If a contract is forfeited more than two times, the board may require, as a condition of reinstatement, that the purchaser or the purchaser's vendee pay the account in full.
(b)  A person who exercises a right of reinstatement shall:
(1)  pay all delinquent installments, penalties, and costs incident to the reinstatement;  and
(2)  fulfill any other requirements prescribed by the board.
Acts 1977, 65th Leg., p. 2671, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 8, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.318. Resale of Land

Sec. 161.318.  RESALE OF LAND.  Land included in a forfeited contract is subject to resale under Section 161.319 of this code.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.319. Resale of Forfeited Land

Sec. 161.319.  RESALE OF FORFEITED LAND.  (a)  Resale of forfeited land under this chapter may be made to the highest bidder under terms and conditions and at the time and in the manner prescribed by the board in its rules, the provisions of this chapter notwithstanding.
(b)  The board may reject any and all bids.
(c)  If the successful bidder refuses to execute a contract of sale and purchase, the money submitted with the person's bid is forfeited and shall be deposited in the State Treasury and credited to the fund.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.26, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.320. Late Payments; Default Interest Rate

Sec. 161.320.  LATE PAYMENTS;  DEFAULT INTEREST RATE.  (a)  The board may impose charges for late payments.
(b)  In addition to charging for late payments under Subsection (a), the board may set and impose a default rate of interest on:
(1)  the past due amounts;  or
(2)  the entire unpaid balance.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 14, eff. Sept. 1, 1985;  Acts 2003, 78th Leg., ch. 674, Sec. 9, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.321. Vacating Premises

Sec. 161.321.  VACATING PREMISES.  If the board declares a forfeiture under a purchase contract, the purchaser shall vacate the premises within 45 days after the date of the letter giving notice of the declaration.  The letter shall be sent by registered mail to the last known address of the purchaser.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.322. Enforcement of Forfeiture and Protection of Rights

Sec. 161.322.  ENFORCEMENT OF FORFEITURE AND PROTECTION OF RIGHTS.  The board, by and through the attorney general, shall institute legal proceedings that are necessary to enforce the forfeiture or to recover the full amount of the delinquent installments, interest, and other penalties that may be due to the board at the time the forfeiture occurred or to protect any other right to the land.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.323. Liability

Sec. 161.323.  LIABILITY.  The liability of the original veteran purchaser and any subsequent assignee or assignees of the veteran are joint and several, but the original veteran purchaser is primarily liable for payment of the money under the original contract of sale and purchase.  The board may release an assignor from liability under this section if at least three years have passed since the approved assignment.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 10, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter H. Forfeiture › Section 161.324. Defenses in Lawsuits

Sec. 161.324.  DEFENSES IN LAWSUITS.  After obtaining the permission of the legislature, in any action brought in the courts against the state involving the title to a tract of land to which the state has a warranty deed, the state is entitled to plead all statutes of limitations in the general laws of this state, but this shall not be considered as a limitation to any other defense the state may have.
Acts 1977, 65th Leg., p. 2672, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.361. Definition

Sec. 161.361.  DEFINITION.  In this subchapter, "person purchasing land under the program" means a person or a person's successor or assign who buys land from the board under a contract of sale and purchase regardless of whether the land is sold under Sections 161.175 and 161.231 through 161.234 or Section 161.319 or Subchapter G,  or who buys land using a mortgage loan under Subchapter K.
Acts 1977, 65th Leg., p. 2673, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 11, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.362. Insurance Requirement

Sec. 161.362.  INSURANCE REQUIREMENT.  (a)  Persons purchasing land under the program shall carry insurance on the improvements on the property in an amount that the board considers necessary.  Failure to do so will subject the contract to forfeiture or the mortgage to foreclosure.
(b)  The board may promulgate rules necessary to enforce this subchapter.
(c)  Repealed by Acts 2003, 78th Leg., ch. 674, Sec. 21, eff. Sept. 1, 2003.
Acts 1977, 65th Leg., p. 2673, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 14.20, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 674, Sec. 12, 21, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.363. Insurance Contract

Sec. 161.363.   INSURANCE CONTRACT.  The board may enter into a contract or agreement with one or more insurance companies authorized to do business in this state to provide life, disability, or other insurance coverage to persons purchasing land under the program, if it is in the best interest of the program.
Acts 1977, 65th Leg., p. 2673, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 13, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.366. Insurance Not Mandatory

Sec. 161.366.  INSURANCE NOT MANDATORY.  It is not mandatory that a person purchasing land under the program accept the offer of the insurance coverage, and refusal by the person to accept the offer of the coverage shall not be a ground for the board to decline to enter into a contract of sale and purchase or a mortgage with the person.
Acts 1977, 65th Leg., p. 2674, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 14, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.368. Collection of Premium

Sec. 161.368.  COLLECTION OF PREMIUM.  The board may collect or provide for collection of the insurance premium in a reasonable manner.
Acts 1977, 65th Leg., p. 2674, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 15, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.370. Cancellation by Insurer

Sec. 161.370.  CANCELLATION BY INSURER.  The contract or agreement shall not prohibit cancellation by the insurer of the entire contract on reasonable notice to the board but shall prohibit cancellation of individual coverage except as provided in this subchapter.
Acts 1977, 65th Leg., p. 2674, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 16, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter I. Insurance › Section 161.371. Termination of Individual Coverage

Sec. 161.371.  TERMINATION OF INDIVIDUAL COVERAGE.  (a)  Individual insurance coverage may be terminated for any person on terms agreed to by the insurer and the board.
(b)  Repealed by Acts 2003, 78th Leg., ch. 674, Sec. 21, eff. Sept. 1, 2003.
(c)  Repealed by Acts 2003, 78th Leg., ch. 674, Sec. 21, eff. Sept. 1, 2003.
Acts 1977, 65th Leg., p. 2674, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 17, 18, 21, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter J. Penalties › Section 161.401. Penalty for Certain Transactions

Sec. 161.401.  PENALTY FOR CERTAIN TRANSACTIONS.  Any person, seller, veteran, or appraiser who knowingly makes, utters, publishes, passes, or uses any false, fictitious, or forged paper, document, contract, affidavit, application, assignment, or other instrument in writing in connection with or pertaining to any transaction under this chapter is guilty of a felony and on conviction shall be punished by imprisonment in the Texas Department of Criminal Justice for not less than two nor more than 10 years, or by a fine of not less than $1,000 nor more than $10,000, or by both.
Acts 1977, 65th Leg., p. 2674, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.139, eff. September 1, 2009.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter J. Penalties › Section 161.402. Penalty Relating to Certain Purchases, Sales, and Resales of Land

Sec. 161.402.  PENALTY RELATING TO CERTAIN PURCHASES, SALES, AND RESALES OF LAND.  A person who knowingly files a false, fictitious, or forged paper, document, contract, affidavit, application, assignment, or other instrument in writing relating to the purchase, sale, or resale of land under this chapter is guilty of a felony and on conviction shall be punished by imprisonment in the Texas Department of Criminal Justice for not less than two nor more than 10 years or by a fine of not less than $1,000 nor more than $10,000, or by both.
Acts 1977, 65th Leg., p. 2675, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.140, eff. September 1, 2009.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter J. Penalties › Section 161.403. Penalty for Defrauding Veteran and State

Sec. 161.403.  PENALTY FOR DEFRAUDING VETERAN AND STATE.  A person who defrauds a veteran of his rights and benefits under this chapter by an act of fraud, duress, deceit, coercion, or misrepresentation or a person who uses the purposes or provisions of this chapter to defraud the state or any veteran by an act of fraud, duress, coercion, misrepresentation, or deceit, is guilty of a felony, and on conviction shall be punished by imprisonment in the Texas Department of Criminal Justice for not less than two nor more than 10 years or by a fine of not less than $1,000 nor more than $10,000, or by both.
Acts 1977, 65th Leg., p. 2675, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.141, eff. September 1, 2009.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.501. Purpose of Subchapter; Construction

Sec. 161.501.  PURPOSE OF SUBCHAPTER;  CONSTRUCTION.  The purpose of this subchapter is to authorize the board to provide loans to veterans for the purchase of land that are secured by a mortgage, deed of trust, or other lien on the land.  This subchapter shall be liberally construed to effect that purpose.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.502. Definitions

Sec. 161.502.  DEFINITIONS.  In this subchapter:
(1)  "Lending institution" means a bank, savings bank, savings and loan association, credit union, trust company, mortgage banker, mortgage company, life insurance company, or other financial institution that customarily provides service or aids in the financing of mortgages on single-family residential housing, or a holding company for one of those institutions.
(2)  "Loan" means a veterans' land loan made or acquired by the board under this subchapter secured by a mortgage, deed of trust, or other lien on the land purchased with the proceeds of the loan.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.503. Loans

Sec. 161.503.  LOANS.  (a)  In addition to purchasing land under Subchapters F and G, the board shall make or acquire loans with money from the fund to finance land purchases by eligible persons in accordance with this subchapter and rules adopted by the board.
(b)  The board may enter into contracts with lending institutions to assist in processing, originating, servicing, or administering loans under this subchapter.
(c)  The board shall adopt credit, underwriting, and appraisal standards that protect the best interest of the program and limit the exposure of the fund to any losses.
(d)  The board shall adopt rules as necessary to implement this subchapter.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 19, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.504. Eligibility for Loan

Sec. 161.504.  ELIGIBILITY FOR LOAN.  (a)  To qualify for a loan under this subchapter, a person must be a veteran at the time the person applies for the loan.  If an eligible veteran dies after filing an application for a loan, the veteran's surviving spouse may complete the transaction.
(b)  The board by rule may determine the number of loans that a person may receive under this subchapter.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.505. Security for Loan

Sec. 161.505.  SECURITY FOR LOAN.  A disbursement of money on a loan may not be made unless the loan is secured by a mortgage, deed of trust, or other lien on the land purchased with the proceeds of the loan.  A mortgage, deed of trust, or other lien may be a participation in a lien securing any other loan for the purchase of the property, including a lien securing a home loan under Chapter 162.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.506. Initial Payment or Equity

Sec. 161.506.  INITIAL PAYMENT OR EQUITY.  The board may require an initial payment on a loan or may require an investment in the land by the loan recipient in an amount set by the board by rule.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.507. Loan Payments

Sec. 161.507.  LOAN PAYMENTS.  (a)  The final principal payment on a loan shall be made not later than the 40th anniversary of the date of the loan.
(b)  The board shall determine the maximum principal amount of loans to the same eligible person that may be outstanding at any time.
(c)  Payments on the loan must be made at times determined by the board.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.508. Fees; Interest

Sec. 161.508.  FEES;  INTEREST.  (a)  All fees to be charged to a person who receives a loan must be approved by the board.
(b)  Any fees or expenses incurred in connection with a loan, including the cost of insurance, may be charged to the loan recipient and included in the principal amount of the loan.
(c)  A loan must bear a fixed, variable, floating, or other rate or rates of interest determined by the board.  The board may set the interest rate or rates to provide a margin over the rate paid by the board on bonds issued by the board under this chapter.
(d)  The difference between the cost of the money to the board and the interest rate or rates charged to a loan recipient may be used in whole or in part to defray the expense of administering the program.
(e)  To ensure the maximum benefit of the program to the loan recipient, the board shall adopt rules:
(1)  relating to the fees, charges, and interest rates that may be charged by a lending institution in connection with financing the purchase of land with money that does not come from the fund;  and
(2)  limiting to the maximum extent practical the fees, charges, and interest rates to the fees, charges, and interest rates that would be collected by the lending institution in the normal course of the institution's mortgage lending business.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.509. Late Payments; Default Interest Rate

Sec. 161.509.  LATE PAYMENTS;  DEFAULT INTEREST RATE.  (a)  The board may impose charges for late payments.
(b)  In addition to charging for late payments under Subsection (a), the board may set and impose a default rate of interest on:
(1)  the past due amounts;  or
(2)  the entire unpaid balance.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 20, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.510. Combination With Certain Home Loans

Sec. 161.510.  COMBINATION WITH CERTAIN HOME LOANS.  The board may:
(1)  permit a person to combine a loan made under this subchapter with:
(A)  a housing assistance loan made under Chapter 162 if the portion of the loan made under this subchapter is funded from amounts on deposit in the fund and the portion of the loan made under Chapter 162 is not funded from amounts in the fund; or
(B)  in accordance with board rules, a home mortgage loan made under Chapter 164; and
(2)  prescribe the amounts of and forms for a combined loan under this section.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 223 (H.B. 1416), Sec. 2, eff. September 1, 2007.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.511. Time Limit on Transfer of Land

Sec. 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.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter K. Land Loans › Section 161.512. Increase in Interest Rate; Accelerated Repayment

Sec. 161.512.  INCREASE IN INTEREST RATE;  ACCELERATED REPAYMENT.  If a recipient of a loan does not comply with the requirements of Section 161.511(a) and the board does not waive the three-year period prescribed by that section, the board by rule may provide for:
(1)  an increase in the interest rate on the loan;
(2)  the acceleration of repayment of the principal of and interest on the loan;  or
(3)  any other remedy the board considers appropriate.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.