§ 373B.001 Definition
§ 373B.002 Creation or Designation
§ 373B.003 Nature of Trust
§ 373B.004 Purposes of Trust
§ 373B.005 Ownership of Land and Housing Units
§ 373B.006 Qualifications of Purchasers or Lessees of Housing Units
§ 373B.007 Relation to Other Law
§ 373B.008 Applicability of Chapter to Trust Operated by Housing Finance Corporation

Terms Used In Texas Local Government Code Chapter 373B - Community Land Trusts

  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.