Texas HB2628 prohibits foreign organizations from purchasing or acquiring real property in the state.

Texas HB2628 amends the Property Code to restrict the purchase or acquisition of real property by certain foreign organizations. Specifically, organizations organized under foreign laws or with their principal place of business outside the United States are barred from acquiring property. Additionally, organizations controlled by such entities or by non-citizens or non-lawful permanent residents are also prohibited. Exceptions allow existing property interests acquired before September 1, 2025, to be held until March 1, 2026, after which divestment is required.

Texas HB2628 prohibits foreign organizations from purchasing or acquiring real property in the state.

Texas HB2628 amends the Property Code to restrict the purchase or acquisition of real property by certain foreign organizations. Specifically, organizations organized under foreign laws or with their principal place of business outside the United States are barred from acquiring property. Additionally, organizations controlled by such entities or by non-citizens or non-lawful permanent residents are also prohibited. Exceptions allow existing property interests acquired before September 1, 2025, to be held until March 1, 2026, after which divestment is required.