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Texas Transportation Code - TRANSP § 22.022. Duration of Certain Leases

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

(a) A lease of real property may not exceed 50 years if:

(1) the lease is made under Section 22.011(c) or (d), Section 22.020, or Section 22.021; and

(2) at the time of the execution of the lease, the property is used as nonaeronautical property and is located on an airport on which there are active federal governmental aircraft operations on federal government property.

(b) A renewal or extension of a lease under Subsection (a) may not exceed 50 years. If the lease provides for more than one renewal or extension, the renewals or extensions may not in the aggregate exceed 50 years.

(c) This section does not prevent the parties to a lease from making a new lease to take effect after the expiration of the previous lease or after the expiration of the period covered by a renewal or extension of the previous lease.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 22.022. Duration of Certain Leases - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-22-022/

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