Sec. 373B.005. OWNERSHIP OF LAND AND HOUSING UNITS. A community land trust may retain title to land it acquires and may:
(1) sell housing units located on the land and lease the land under ground leases with terms of at least 99 years; or
(2) lease housing units located on the land.
Added by Acts 2011, 82nd Leg., R.S., Ch. 383 (S.B. 402), Sec. 1, eff. January 1, 2012.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle A - Municipal Planning and Development
Chapter 373B - Community Land Trusts
Section 373B.002. Creation or Designation
Section 373B.003. Nature of Trust
Section 373B.004. Purposes of Trust
Section 373B.005. Ownership of Land and Housing Units
Section 373B.006. Qualifications of Purchasers or Lessees of Housing Units
Section 373B.007. Relation to Other Law
Section 373B.008. Applicability of Chapter to Trust Operated by Housing Finance Corporation