(a) A State Agency Or Political subdivision may directly sell or exchange real property belonging to the state agency or political subdivision with the board for land dedicated to the permanent school fund if the exchange is for fair market value.
(b) § 272.001, Local Government Code, does not apply to an exchange under this section.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Texas Natural Resources Code 32.252

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  Previous section
Next section  
 Subchapter G Contents