Texas Local Government Code 263.008 – Broker Agreements and Fees for the Sale of Real Property
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 commissioners court of a county may contract with a broker to sell or lease a tract of real property that is owned by the county.
Terms Used In Texas Local Government Code 263.008
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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 commissioners court of a county may pay a fee if a broker produces a ready, willing, and able buyer or lessee to purchase or lease a tract of real property.
(d) If a contract made under Subsection (b) requires a broker to list the tract of real property for sale or lease for at least 30 days with a multiple-listing service used by other brokers in the county, the commissioners court on or after the 30th day after the date the property is listed may sell or lease the tract of real property to a ready, willing, and able buyer or lessee who is produced by any broker using the multiple-listing service and who submits the highest cash offer.
(e) The commissioners court may sell or lease a tract of real property under this section without complying with the requirements for conducting a public auction, including the requirements prescribed by § 263.001.