(a) There is no preference right as to any property sold, under contract for sale, or offered for sale prior to January 1, 1998. For purposes of this section, the phrase offered for sales shall include, any of the following activities:
- (1) the publication of a list of properties to be sold by sealed bid sale held by the GLO under the provisions of the Texas Natural Resource Code, §31.158; or
- (2) any traditional and customary real estate industry actions or practices taken to elicit offers for the sale of property, including without limitations, the placement of "For Sale" signs, advertisement for sale in newspapers, magazines, brochures, flyers, or the internet, evidence of which shall be retained in the GLO land files pertaining to the sale of the property.
- (b) As to property not offered for sale prior to January 1, 1998, a preference right shall accrue and be limited to a person, or the person's heirs or successor who conveyed land to the state for use by the superconducting super collider research facility in Ellis County, Texas.
- (c) Before the GLO initiates formal action to sell a particular tract of property to any other party, notice shall be given to a person with a preference right, in accordance with the provisions of §13.63 of this title (relating to Notice of Preference Right).
- (d) A preference right may not be sold, transferred or assigned to a third party.
- (e) A preference right is not an interest in the property.
Source Note:The provisions of this §13.62 adopted to be effective March 22, 1998, 23 TexReg 2826.