Texas Local Government Code 51.076 – Authority Relating to Property
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(a) The municipality may hold property, including any charitable or trust fund, that it receives by gift, deed, devise, or other manner.
(b) The municipality may provide that any property owned or held by the municipality is not subject to any kind of execution.
Terms Used In Texas Local Government Code 51.076
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Property: means real and personal property. See Texas Government Code 311.005