Relating to interests of certain foreign governments in real property.
relating to interests of certain foreign governments in real
property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 5.005, Property Code, is amended to read
as follows:
Sec. 5.005. ALIENS. Except as provided by Subchapter H, an
[An] alien has the same real and personal property rights as a
United States citizen.
SECTION 2. Chapter 5, Property Code, is amended by adding
Subchapter H to read as follows:
SUBCHAPTER H. INTERESTS OF CERTAIN FOREIGN GOVERNMENTS IN REAL
PROPERTY
Sec. 5.251. DEFINITION. In this subchapter, “foreign
government” means the government of China, Iran, Iraq, North Korea,
Russia, or Syria.
Sec. 5.252. CERTAIN INTERESTS IN REAL PROPERTY PROHIBITED.
(a) Notwithstanding any other law, and except as provided by
Section 5.253, the following may not lease, purchase, or otherwise
acquire title to or hold any other interest in real property in this
state:
(1) a foreign government;
(2) a company or other entity that is directly or
indirectly held or controlled by a foreign government; or
(3) a company or other entity that is owned by or the
majority of stock or other ownership interest of which is held or
controlled by a company or entity described by Subdivision (2).
(b) A transfer of an interest in real property in violation
of this section is void.
Sec. 5.253. PROPERTY INTEREST HELD ON AUGUST 31, 2025. (a)
Subject to Subsection (b), an entity described by Section 5.252 may
hold an interest in real property if the interest was held by the
entity on August 31, 2025.
(b) An interest in real property held by an entity described
by Section 5.252 that terminates on or after September 1, 2025, may
not be renewed by the entity.
SECTION 3. This Act takes effect September 1, 2025.
