TX HB402

Prohibits governmental entities, companies, and citizens of "designated countries" (nations identified as national security risks in the three most recent U.S. Intelligence Community Annual Threat Assessments) from purchasing or acquiring title to real property in Texas

Defines covered real property as agricultural land, improvements on agricultural land, mines, quarries, minerals in place, and standing timber

Exempts U.S. citizens and lawful permanent residents (including dual citizens), entities owned/controlled by such individuals, property intended for use as a residence homestead, and leasehold interests

Authorizes the attorney general to bring enforcement actions in district court when there is reasonable suspicion that a prohibited purchase creates a public health, safety, or welfare risk

Requires courts finding a violation to divest the individual's or entity's interest in the property and appoint a receiver to manage and sell it; applies only to property acquisitions on or after September 1, 2025