Texas Property Code - Section 82.158. Escrow Of Deposits
Legal Research Home >
Texas Lawyer > Property Code > Texas Property Code - Section 82.158. Escrow Of Deposits
§ 82.158. ESCROW OF DEPOSITS. A deposit made in
connection with the purchase or reservation of a unit from a
declarant shall be placed in escrow and held in this state in an
account designated for that purpose by a real estate broker, an
attorney, a title insurance company licensed in this state, an
independent bonded escrow company, or an institution whose accounts
are insured by a governmental agency or instrumentality until
delivered to the declarant at closing, delivered to the declarant
because of the purchaser's default under a contract to purchase the
unit, or refunded to the purchaser. Escrow deposits may be placed
in interest-bearing accounts, and the interest is payable as may be
agreed in writing between the declarant and the purchaser.
Added by Acts 1993, 73rd Leg., ch. 244, § 1, eff. Jan. 1, 1994.
Section: 82.151 82.152 82.153 82.154 82.155 82.156 82.157 82.158 82.159 82.160 82.161 82.162 82.163 82.164 91.001
Last modified: August 11, 2007
|
