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A shotgun clause (or Texas Shootout Clause [1]) is a term of art, rather than a legal term. It is a specific type of exit provision that may be included in a shareholders' agreement, and may often be referred to as a buy-sell agreement. The shotgun clause allows a shareholder to offer a specific price per share for the other shareholder(s ...
The General Land Office's main role is to manage Texas's publicly owned lands, by negotiating and enforcing leases for the use of the land, and sometimes by making sales of public lands. Royalties and proceeds from land sales are added to the state's Permanent School Fund , which helps to fund public education within the state. [ 2 ]
A 99-year lease is, under historic English law, since widely received abroad, the longest permissible term of a lease of real property.It is no longer the law in most common law jurisdictions today, yet 99-year leases continue to be common as a matter of business practice and conventional wisdom.
Feb. 29—AUSTIN — The Texas Parks and Wildlife Department (TPWD) is taking public comment until March 27 to the following proposed changes to the 2024-2025 Statewide Hunting and Migratory Game ...
The option gives the tenant the right (but not the obligation) to purchase the property at a later date. The lease option only binds the seller to sell, it does not bind the buyer to buy. That makes it a "unilateral" or one-way agreement. In contrast, a lease-purchase is a bilateral, or two-way, agreement. The basic elements of a lease-option ...
A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1]
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Habendum clauses are also found in leases, particularly oil and gas leases. The habendum clause can define how long the interest granted will extend. Most oil and gas leases provide for a primary and secondary term. [2] During the primary term the lessee can hold the lease without producing.
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