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.
Structure Texas Statutes
Chapter 161 - Veterans Land Board
Section 161.311. Board Judge of Forfeiture
Section 161.312. Forfeiture by Board
Section 161.313. Correction of Reason for Forfeiture
Section 161.314. Time of Forfeiture
Section 161.315. Notice to County Clerk
Section 161.316. Effect of Forfeiture on Leases
Section 161.317. Reinstatement of Purchase
Section 161.318. Resale of Land
Section 161.319. Resale of Forfeited Land
Section 161.320. Late Payments; Default Interest Rate
Section 161.321. Vacating Premises
Section 161.322. Enforcement of Forfeiture and Protection of Rights