Texas Insurance Code

§ 557.001 — DEFINITIONS

IN § 557.001Title 5. PROTECTION OF CONSUMER INTERESTS · Part C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES · Ch. 557. INSURED PROPERTY SUBJECT TO SECURITY INTEREST · Art. A. INSURANCE PROCEEDS HELD BY LENDER PENDING REPAIR OF RESIDENTIAL REAL PROPERTY

Statute text

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In this subchapter:

(1)"Lender" means a person holding a mortgage, lien, deed of trust, or other security interest in property.

(2)"Residential real property" means:

(A)a single-family house;

(B)a duplex, triplex, or quadraplex; or

(C)a unit in a multi-unit residential structure in which title to an individual unit is transferred to the owner of the unit under a condominium or cooperative system.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.