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Texas Property Code - PROP § 5.254. Designation of Country or Entity as Subject to Prohibition on Purchase or Acquisition of Real Property

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

(a) The governor, after consultation with the public safety director of the Department of Public Safety, may, for purposes of Section 5.253:

(1) determine whether the purchase or acquisition of an interest in real property in this state by an individual or entity poses a risk to the national security of the public;  and

(2) based on a determination made under Subdivision (1):

(A) designate a country or a transnational criminal organization or other entity as subject to this subchapter;  or

(B) remove a designation made under Paragraph (A).

(b) The governor shall consult the Homeland Security Council established under Subchapter B, Chapter 421, Government Code, for purposes of making or removing a designation under this section.

(c) The designation or removal of the designation of a country or entity under this section applies only to the purchase or acquisition of an interest in real property that occurs on or after the date the governor designates or removes the designation of the country or entity.

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Cite this article: FindLaw.com - Texas Property Code - PROP § 5.254. Designation of Country or Entity as Subject to Prohibition on Purchase or Acquisition of Real Property - last updated January 01, 2024 | https://codes.findlaw.com/tx/property-code/prop-sect-5-254/

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