Texas Government Code - Section 402.025. Property Transactions
Legal Research Home >
Texas Lawyer > Government Code > Texas Government Code - Section 402.025. Property Transactions
§ 402.025. PROPERTY TRANSACTIONS. (a) If property is
sold under a deed of trust or because of an execution, order, or
sale on a judgment in favor of the state, except an execution on a
judgment in a case of scire facias, the agent representing the
state, with the advice and consent of the attorney general, shall
purchase the property if the purchase is considered proper to
protect the interest of the state in the collection of the judgment
or debt. The agent's bid may not exceed the amount necessary to
satisfy the judgment or debt and related costs. The officer selling
the property shall execute and deliver to the state a deed to the
property as if the state were an individual.
(b) The agent, with the advice and consent of the attorney
general, may dispose of the property in the manner it was acquired,
on the terms and conditions that the agent considers most
advantageous to the state. Money received for the property in
excess of the amount necessary to satisfy the judgment or debt and
related costs shall be deposited in the state treasury to the credit
of the general revenue fund. The attorney general, in the name of
the state, shall deliver to the purchaser a deed to the property
vesting right and title to the property in the purchaser.
Acts 1987, 70th Leg., ch. 147, § 1, eff. Sept. 1, 1987.
Section: 402.009 402.021 402.0212 402.0213 402.023 402.0231 402.024 402.025 402.026 402.027 402.028 402.029 402.030 402.041 402.042
Texas Lawyers
Last modified: August 10, 2007
| 