§ 161.501 Purpose of Subchapter; Construction
§ 161.502 Definitions
§ 161.503 Loans
§ 161.504 Eligibility for Loan
§ 161.505 Security for Loan
§ 161.506 Initial Payment or Equity
§ 161.507 Loan Payments
§ 161.508 Fees; Interest
§ 161.509 Late Payments; Default Interest Rate
§ 161.510 Combination With Certain Home Loans
§ 161.511 Time Limit On Transfer of Land
§ 161.512 Increase in Interest Rate; Accelerated Repayment
§ 161.513 Foreclosure and Resale
§ 161.514 Sale of Loans
§ 161.515 Certain Rights, Benefits, Conditions, and Obligations Prohibited

Terms Used In Texas Natural Resources Code Chapter 161 > Subchapter K - Land Loans

  • Appraisal: A determination of property value.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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
  • Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
  • Property: means real and personal property. See Texas Government Code 311.005
  • Rule: includes regulation. See Texas Government Code 311.005
  • Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005