Texas Natural Resources Code 31.001 – Definitions
Terms Used In Texas Natural Resources Code 31.001
- Appraisal: A determination of property value.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- 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.
In this chapter:
(1) “Appraiser” means a state-certified or state-licensed real estate appraiser who:
(A) is employed by or contracts with the land office; and
(B) performs professional valuation services completely and in a manner that is independent, impartial, and objective.
(2) “Board” means the School Land Board.
(3) “Commissioner” means the Commissioner of the General Land Office.
(4) “Division” means the asset management division of the General Land Office or any other division delegated the duties of the asset management division by the commissioner.
(5) “Evaluation report” means the annual report prepared by the commissioner as provided by Subchapter E.
(6) “Exchange” means an exchange of equal value or an exchange of real property accompanied by consideration.
(7) “Governor’s report” means the report prepared by the commissioner as provided by § 31.157.
(8) “Institution of higher education” means the Texas State Technical College System, the Southwest College for the Deaf, or an institution of higher education, excluding a public junior college, as defined by § 61.003, Education Code.
(9) “Land office” means the General Land Office.
(10) “Market value” means the value of real property determined by an appraisal of the real property performed by an appraiser.
(11) “Political subdivision” means a municipality, county, public school district, levee improvement district, municipal utility district, or any other special purpose district authorized by state law.
(12) “Real estate transaction” means a sale, lease, trade, exchange, gift, grant, or other conveyance of a real property interest.
(13) “Real property owned by the state” means any interest in real property in the possession of the state or a state agency, including real property held in trust by a state agency.
(14) “State” means the State of Texas.
(15) “State agency” means a board, commission, department, institution, office, or other agency of state government, including an institution of higher education but excluding a special purpose district or authority.