40 Tex. Admin. Code § 175.58 - Removal of Material Assets, Releases, and Payment in Full
(a) The borrower is liable to the board for
any decrease in value of the land due to any sale or removal of timber, rock,
gravel, sand, chemicals, or other material assets, the loss of which tends to
lower the value of the land.
(b) If
a borrower wishes to obtain a partial release of lien to clear title to a
portion of the land, the borrower shall submit a request in writing to the
board. The procedures for granting a partial release are identical to those for
obtaining a severance as provided in §175.12, relating to Severances, of
this chapter, except that the board will issue a partial release of lien,
instead of a deed, for a portion of the tract.
(c) When a loan is paid in full, the board
will execute a release of lien in favor of the borrower identified in the
records of the board.
Notes
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