Texas Government Code 2306.230 – Agreements Regarding Certain Limitations On Housing Sponsors
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 2306.230
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
A mortgage loan is subject to an agreement between the department and the housing sponsor that subjects the sponsor and its principals or stockholders to limitations established by the department regarding:
(1) rentals and other charges;
(2) builders’ and developers’ profits and fees;
(3) the disposition of its property; and
(4) the real property that constitutes the site of or relates to the housing development.