The purchase of or acquisition of title to real property by certain aliens or foreign entities

Texas House Bill 402 aims to regulate the ability of certain foreign individuals or companies to purchase or acquire ownership of real estate in Texas. The bill outlines specific restrictions or conditions under which these foreign entities can engage in real estate transactions within the state.

Supporters of HB402 argue that the bill is necessary to protect Texas land and resources from foreign influence and control. They believe it will ensure that real estate ownership remains primarily in the hands of Texans, safeguarding economic interests and national security.

Critics of HB402 contend that the bill could discourage foreign investment in Texas, potentially harming the state's economy. They warn that it may be seen as xenophobic or discriminatory, targeting specific nationalities and undermining Texas's reputation as a welcoming place for international business.