Texas Transportation Code 202.026 – Reconveyance of Property Acquired for Freeway
Current as of: 2024 | Check for updates
|
Other versions
(a) The governor, on recommendation of the commission, may execute a deed reconveying the property to the grantor or the grantor’s heirs or assigns, if, not later than 12 months after the date the property is acquired for use as an approach-way to an urban freeway, the commission determines that the property is not needed for a highway purpose because of relocation of the approach-way.
(b) The sale price for the property must be the same as the purchase price paid by or for the state plus six percent annual interest from the date the original purchase price was paid.
Terms Used In Texas Transportation Code 202.026
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Property: means real and personal property. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) When the commission determines that the property is not needed for a highway purpose, it shall send written notice to the grantor, at the grantor’s address at the time of acquisition.
(d) Not later than the second anniversary of the date the notice is mailed, the grantor or the grantor’s heirs or assigns may request in writing that the state reconvey the property to them.
(e) If the commission does not receive a request to reconvey the property before the expiration of the period, the commission may dispose of the property at a public sale.