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Texas Agriculture Code - AGRIC § 59.030. Term of Leases

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A purchaser may not lease land purchased with financial assistance under this chapter for a term longer than 10 years, except:

(1) a lease for oil, gas, or other minerals may be for a term of not longer than 10 years, and as long thereafter as oil, gas, or other minerals are produced from the land in commercial quantities; and

(2) a lease for coal and lignite may be for a term of not longer than 40 years, and as long thereafter as coal and lignite are produced from the land in commercial quantities.

(b) A lease or a separate instrument to take effect in the future may not contain a provision for option or renewal of the lease or re-lease of the property for any term that would result in a fixed term of the lease that exceeds the maximum fixed term authorized under Subsection (a) of this section. A lease or instrument that contains an option renewal or re-lease agreement in violation of this section is void.

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Cite this article: FindLaw.com - Texas Agriculture Code - AGRIC § 59.030. Term of Leases - last updated January 01, 2024 | https://codes.findlaw.com/tx/agriculture-code/agric-sect-59-030/

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