Texas Natural Resources Code
§ 51.195 — PURCHASE OR LEASE BY APPLICANT
NR § 51.195Title 2. PUBLIC DOMAIN · Part D. DISPOSITION OF THE PUBLIC DOMAIN · Ch. 51. LAND, TIMBER, AND SURFACE RESOURCES · Art. E. SALE AND LEASE OF VACANCIES
Statute text
View on source(a)If no good-faith claimant exists or if no good-faith claimant exercises a preferential right within the applicable period, the applicant has a preferential right to purchase or lease the land determined to be vacant on or before the 60th day after the date:
(1)the commissioner determines that no good-faith claimant exists; or
(2)the period for a good-faith claimant to exercise a preferential right to purchase or lease the land determined to be vacant expires.
(b)If a good-faith claimant exercises the claimant's preferential right in the land determined to be vacant, the applicant has a preferential right to either:
(1)an award by the board of a perpetual 1/32 nonparticipating royalty of the full mineral interest of the vacancy; or
(2)a preferential right to purchase or lease any remaining interest in the land determined to be vacant.
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Legislative history
Acts 2005, 79th Leg., Ch. 874 (S.B. 1103), Sec. 1, eff. June 17, 2005.