Tex. Transp. Code Section 203.059
Purchase of Lease Rights

(a)

Before acquiring property under this subchapter, the department may purchase the right to lease the property to a third party.

(b)

The department may make a purchase under Subsection (a) only if the department first determines that the owner is unable to lease or rent the property because of the impending acquisition by the department.

(c)

The consideration for the purchase of a lease right under this section may not exceed the fair market rental value of the property as determined by the department and shall be credited against the total compensation due the owner when the department acquires the property.

(d)

Payment under this section may be made in periodic increments until the property is acquired by the department. The aggregate total of payments before acquisition may not exceed the department’s approved appraised value of the property.

(e)

The department shall adopt rules to implement this section.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Source: Section 203.059 — Purchase of Lease Rights, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­203.­htm#203.­059 (accessed May 18, 2024).

203.001
Definitions 203.002
Modern State Highway System 203.003
Jurisdiction 203.021
Public Hearings 203.022
Rules Governing Notice and Comment 203.023
Substantial Change in Layout or Function 203.031
Control of Access 203.032
Precedence of Commission Order 203.033
Injunction Against Denial of Access 203.034
Right to Access 203.051
Acquisition of Property Authorized 203.052
Commission Determination Required 203.053
Location of Property Acquired 203.054
Attorney General Shall Bring Suit 203.055
Acquisition of Rights in Public Real Property 203.056
Consent to Use of State Property 203.057
Cooperation of State Agency 203.058
Compensation for State Agency 203.059
Purchase of Lease Rights 203.060
Payment Procedure 203.061
Payment Procedure if Owner Fails to Deliver Executed Deed 203.062
Payment for Real Property Acquired by Eminent Domain 203.063
Payment Procedures in Addition to Other Procedures Authorized by Law 203.064
Acquisition of Freeway by Gift or Devise 203.065
Acquisition of Freeway by County Commissioners Court 203.066
Declaration of Taking for Toll Project 203.067
Possession of Property for Toll Project 203.068
Right of Entry for Toll Project 203.069
Covenants, Conditions, Restrictions, or Limitations 203.091
Definition 203.092
Reimbursement for Relocation of Utility Facilities 203.093
Reimbursement from State Highway Fund 203.094
Timely Relocation 203.095
Rules 203.111
Lease for Parking Purposes 203.112
Prohibition or Restriction of Fireworks at Rest Area 203.0521
Acquisition of Remainder 203.0921
Department Relocation of Utility Facilities for Essential Highway Improvement 203.0935
Timely Agreement 203.0941
Utility Relocation Eligible for Financial Assistance from Water Development Board
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Accessed:
May 18, 2024

§ 203.059’s source at texas​.gov