Tex. Transportation Code § 451.155
This is the official text of Tex. Transportation Code § 451.155, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 451.155. TRANSFER OF REAL PROPERTY IN STATION OR TERMINAL COMPLEX.
Official statutory text
(a) An authority may transfer to any person by any means, including a sale or lease, an interest in real property in a station or terminal complex and may contract with respect to it, in accordance with the comprehensive transit plan approved by the board and subject to terms:
(1) the board finds to be in the public interest or necessary to carry out this section; and
(2) the instrument transferring the title or right of use specifies.
(b) A transfer must be at the fair value of the interest transferred considering the use designated for the real property in the authority's comprehensive transit plan.
(c) A person from whom property offered for sale under this section was acquired by eminent domain or the threat of eminent domain has a first right to purchase the property at the price for which the property is offered to the public.
(1) the board finds to be in the public interest or necessary to carry out this section; and
(2) the instrument transferring the title or right of use specifies.
(b) A transfer must be at the fair value of the interest transferred considering the use designated for the real property in the authority's comprehensive transit plan.
(c) A person from whom property offered for sale under this section was acquired by eminent domain or the threat of eminent domain has a first right to purchase the property at the price for which the property is offered to the public.
Status: in_force · Read it on the official government site
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