(a) Notwithstanding Chapters 2165, 2166, and 2167, Government Code, or any other law, the department may own, control, manage, maintain, improve, lease, pledge, encumber, trade, sell, transfer, and otherwise dispose of real property, including improvements.
(b) If requested by the department, the General Land Office shall negotiate and close a sale of real property under this section on behalf of the department using procedures under Section 31.158(c), Natural Resources Code, except that the General Land Office is not required to offer the School Land Board the first option to purchase the real property.

Terms Used In Texas Transportation Code 1001.201

  • 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
  • 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.

(c) Revenue from the lease, encumbrance, sale, trade, transfer, or other disposition of real property under this section shall be deposited to the credit of the Texas Department of Motor Vehicles fund for the use and benefit of the department.
(d) The expenses incurred by the General Land Office in conducting a real estate transaction under this section, including the payment of reasonable brokerage fees, may be deducted from the proceeds of the transaction before the proceeds are deposited to the credit of the Texas Department of Motor Vehicles fund.

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