Texas Property Code

§ 62.105 — TERM OF ESCROW ACCOUNT

PR § 62.105Title 5. EXEMPT PROPERTY AND LIENS · Part B. LIENS · Ch. 62. BROKER'S AND APPRAISER'S LIEN ON COMMERCIAL REAL ESTATE · Art. F. ESCROW OF DISPUTED AMOUNTS

Statute text

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The amount held in escrow shall be held in escrow until:

(1)the rights of the parties claiming the amount in escrow are determined by a written agreement of the parties, a court order, or an alternative dispute resolution process agreed to by the parties;

(2)the broker's lien is no longer enforceable; or

(3)the funds are interpled into a district court for the county in which the commercial real estate is located.

Legislative history

Added by Acts 1999, 76th Leg., ch. 1571, Sec. 1, eff. Aug. 30, 1999.