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Texas Business Organizations Code - Section 252.005. Statement Of Authority As To Real Property

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 252.005. Statement Of Authority As To Real Property

§ 252.005. STATEMENT OF AUTHORITY AS TO REAL 
PROPERTY.  (a) A nonprofit association may execute and record a 
statement of authority to transfer an estate or interest in real 
property in the name of the nonprofit association.
	(b)  An estate or interest in real property in the name of a 
nonprofit association may be transferred by a person so authorized 
in a statement of authority recorded in the county clerk's office in 
the county in which a transfer of the property would be recorded.
	(c)  A statement of authority must contain:                                    
		(1)  the name of the nonprofit association;                                   
		(2)  the address in this state, including the street 
address, if any, of the nonprofit association, or, if the nonprofit 
association does not have an address in this state, its address out 
of state;  and
		(3)  the name or title of a person authorized to 
transfer an estate or interest in real property held in the name of 
the nonprofit association.
	(d)  A statement of authority must be executed in the same 
manner as a deed by a person who is not the person authorized to 
transfer the estate or interest.
	(e)  The county clerk may collect a fee for recording a 
statement of authority in the amount authorized for recording a 
transfer of real property.
	(f)  An amendment, including a cancellation, of a statement 
of authority must meet the requirements for execution and recording 
of an original statement.  Unless canceled earlier, a recorded 
statement of authority or its most recent amendment is canceled by 
operation of law on the fifth anniversary of the date of the most 
recent recording.
	(g)  If the record title to real property is in the name of a 
nonprofit association and the statement of authority is recorded in 
the county clerk's office of the county in which a transfer of real 
property would be recorded, the authority of the person named in a 
statement of authority is conclusive in favor of a person who gives 
value without notice that the person lacks authority.

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 11, 2007