{"data":{"id":"us-tx/tex.-government-code-2306.174","jurisdiction":"us-tx","citation":"Tex. Government Code § 2306.174","heading":"ACQUISITION AND DISPOSITION OF PROPERTY.","body":"The department may:\n(1) acquire, own, rent, lease, accept, hold, or dispose of any real, personal, or mixed property, or any interest in property, including a right or easement, in performing its duties and exercising its powers under this chapter, by purchase, exchange, gift, assignment, transfer, foreclosure, sale, lease, or otherwise;\n(2) hold, manage, operate, or improve real, personal, or mixed property, except that:\n(A) the department is restricted in acquiring property under Section 2306.251 unless it is required to foreclose on a delinquent loan and elects to acquire the property at foreclosure;\n(B) the department shall make a diligent effort to sell a housing development acquired through foreclosure to a purchaser who will be required to pay ad valorem taxes on the housing development or, if such a purchaser cannot be found, to another purchaser; and\n(C) the department shall sell a housing development acquired through foreclosure not later than the third anniversary of the date of acquisition unless the board adopts a resolution stating that a purchaser cannot be found after diligent search by the housing finance division, in which case the department shall continue to try to find a purchaser and shall sell the housing development when a purchaser is found; and\n(3) lease or rent land or a dwelling, house, accommodation, building, structure, or facility from a private party to carry out the housing finance division's purposes.\nAdded by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.","path":["GOVERNMENT CODE","TITLE 10. GENERAL GOVERNMENT","SUBTITLE G. ECONOMIC DEVELOPMENT PROGRAMS INVOLVING BOTH STATE AND LOCAL GOVERNMENTS","CHAPTER 2306. TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS","SUBCHAPTER H. HOUSING FINANCE DIVISION: GENERAL POWERS AND DUTIES OF DEPARTMENT"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm#2306.174","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"b7c6d99b08f388d4dd4ef31a685d8e7474a4386cc36690bc3b0604d8fb9de4ed","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-2306.173","next":"us-tx/tex.-government-code-2306.175"},"notice":"GroundRules: Original legal text. Not legal advice."}