(a) A transit department may acquire, hold, use, sell, lease, or dispose of property, including licenses, patents, rights, and other interests, necessary, convenient, or useful for the full exercise of any of its powers under this chapter.
(b) The transit department may acquire property described in Subsection (a) in any manner, including by gift or devise.

Terms Used In Texas Transportation Code 453.102

  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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

(c) An acquisition made or other action taken under Subsection (a) shall be in the name of the municipality that created the transit department.
(d) A transit department may dispose of, by sale, lease, or other conveyance:
(1) any property of the transit department not needed for the efficient operation and maintenance of the transit department system; and
(2) any surplus property not needed for its requirements or for the purpose of carrying out its powers under this chapter.
(e) The lease of unneeded property under Subsection (c) must be consistent with the efficient operation and maintenance of the transit department system.

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