Tex. Prop. Code Section 62.104
Refusal to Establish Escrow Account or Bond

(a)

A party may not refuse to close a transaction because of the requirement to establish an escrow account or bond as provided by Section 62.101 (Escrow Account) if:

(1)

the broker provides a copy of the notice of lien that complies with Sections 62.025 (Contents of Notice of Lien) and 62.026 (Notice of Filing);

(2)

sufficient proceeds will result from the proposed transaction for the payment of the commission and costs of the interpleader; and

(3)

the broker executes and delivers a full release of the broker’s lien in a recordable form.

(b)

A prospective buyer of a commercial real estate interest may not refuse to close the purchase solely because a broker’s lien is filed after the date a title commitment or abstract of title relating to the interest is issued if an escrow account is established as provided by this subchapter or a bond is filed as provided by Subchapter G.
Added by Acts 1999, 76th Leg., ch. 1571, Sec. 1, eff. Aug. 30, 1999.

Source: Section 62.104 — Refusal to Establish Escrow Account or Bond, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­62.­htm#62.­104 (accessed Apr. 13, 2024).

Green check means up to date. Up to date

Accessed:
Apr. 13, 2024

§ 62.104’s source at texas​.gov