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Tex. Prop. Code § 62.105

TERM OF ESCROW ACCOUNT

Known as the Broker's and Appraiser's Lien on Commercial Real Estate Act

The act spans §§ 62–62 (34 sections).

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

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.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.