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.
Structure Texas Statutes
Chapter 161 - Veterans Land Board
Subchapter F. Purchase, Sale, and Other Disposition of Land
Section 161.2111. Report to Bond Review Board
Section 161.215. Purchase of Land
Section 161.216. Cost of Land Sold by Board
Section 161.217. Appointment of Local Committee
Section 161.218. Work of Local Committee
Section 161.219. Board Investigation
Section 161.221. Initiation of Sale
Section 161.222. Purchase Payments
Section 161.223. Board to Specify Terms
Section 161.224. Time Limit on Transfer
Section 161.225. Sale to a Nonveteran
Section 161.226. Disposition of Land That Is Paid For
Section 161.227. Lease of Land
Section 161.228. Conditions of Leases
Section 161.230. Death of Purchaser
Section 161.231. Subdividing Land
Section 161.232. Conditions for Sale of Land
Section 161.234. Sale to Other Purchasers
Section 161.235. Rights of Surviving Spouse
Section 161.236. Number of Tracts Purchased
Section 161.237. Exemption From Certain Real Estate Transaction Laws