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.
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