Section 19.76 - Sale of Derelict Vessel or Structure(a) If a derelict vessel or structure is not claimed under § 19.74 of this title (relating to Claim of Ownership) or § 19.75 of this title (relating to Lien Holder Rights):(1) the owner or lien holder:(A) waives all rights and interests in the vessel or structure, except that in the case of a security interest, the lien holder is entitled to be paid from the proceeds that exceed the cost of removal, storage, and disposal, an amount necessary to satisfy the secured debt; and(B) consents to the sale of the item by the authorized public entity, transfer the item, if a watercraft, or the disposal of the item; and(2) the authorized public entity may sell the vessel or structure as provided by law or dispose of the vessel or structure as provided in § 19.77 of this title (relating to Disposal of Derelict Vessel or Structure).(b) The purchaser of a vessel: (1) takes title free and clear of all liens and claims of ownership;(2) shall receive a sales receipt from the authorized public entity and a copy of the commissioner's order authorizing disposal of the vessel after notice and an opportunity for hearing has occurred; and(3) is entitled to register the vessel and apply for a certificate of title from Texas Parks and Wildlife Department for the vessel as property seized by a governmental entity.(c) The purchaser of a vessel or structure that has been the subject of a removal action must agree that the person will not abandon the same vessel or structure in violation of Texas Natural Resources Code § 40.108 and that breach of such agreement will subject the person to an civil penalty in the amount specified in Texas Natural Resources Code § 40.251(f).31 Tex. Admin. Code § 19.76
The provisions of this §19.76 adopted to be effective September 13, 2010, 35 TexReg 8377