Texas Natural Resources Code 161.361 – Definition
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Terms Used In Texas Natural Resources Code 161.361
- Contract: A legal written agreement that becomes binding when signed.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
In this subchapter, “person purchasing land under the program” means a person or a person’s successor or assign who buys land from the board under a contract of sale and purchase regardless of whether the land is sold under Sections 161.175 and 161.231 through 161.234 or § 161.319 or Subchapter G, or who buys land using a mortgage loan under Subchapter K.