Definiciones sobre terrenos y propiedades en el Código de Recursos Naturales de Texas

1.04, Tax Code. (12) "Sovereign land" means land that has not been sold and severed by the sovereign. (13) "Real property holding" means any direct or indirect interest in real property located in the state or any interest in a joint venture whose primary purpose is the acquisition, development, holding, and disposing of real property located in the state. The term does not include an interest in an investment vehicle. (14) "Investment vehicle" means: (A) a multi-investment separately managed account or similar investment fund; (B) a multi-asset closed-end or open-end investment fund sponsored and managed by a third party; (C) a real estate investment trust; (D) an investment managed by a third party alongside a multi-asset closed-end or open-end investment fund that is also managed by the third party or by any of the third party's related persons or affiliates; or (E) a corporation, partnership, limited liability Statute text rendered on: 1/18/2025 - 240 - NATURAL RESOURCES CODE company, or other entity whose primary purpose is to: (i) sponsor and manage investments on behalf of third parties, including institutional investors; or (ii) operate assets or provide brokerage or other services to third parties under circumstances in which the entity does not directly or indirectly own the underlying assets. Acts 1977, 65th Leg., p. 2417, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 14.02, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch