Texas Local Government Code 373B.005 – Ownership of Land and Housing Units
Current as of: 2024 | Check for updates
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Terms Used In Texas Local Government Code 373B.005
- 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
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.