Texas Local Government Code 253.014 – Broker Agreements and Fees for Sale of Real Property by Home-Rule Municipality
Current as of: 2024 | Check for updates
|
Other versions
(a) In this section, “broker” means a person licensed as a broker under Chapter 1101, Occupations Code.
(b) The governing body of a home-rule municipality may contract with a broker to sell a tract of real property that the municipality:
(1) owns; or
(2) holds in trust and has the authority to sell.
Terms Used In Texas Local Government Code 253.014
- Contract: A legal written agreement that becomes binding when signed.
- Home-rule municipality: means a municipality designated by Chapter 5 as a home-rule municipality. See Texas Local Government Code 1.005
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(c) The governing body may pay a fee if a broker produces a ready, willing, and able buyer to purchase a tract of real property.
(d) If a contract is made under Subsection (b) with a broker to list the tract of real property for sale for at least 30 days with a multiple-listing service, the governing body on or after the 30th day after the date the property is listed may sell the tract of real property to a ready, willing, and able buyer who is produced by any broker using the multiple-listing service and who submits the highest cash offer.
(e) The governing body may sell a tract of real property under this section without complying with the public auction requirements prescribed by § 253.008 or other law or the notice and bidding requirements prescribed by § 272.001 or other law.