Texas Property Code Title 5, Chapter 62 - Broker's And Appraiser's Lien On Commercial Real Estate

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 62.001 - Short Title
  This chapter may be cited as the Broker's and Appraiser's Lien on Commercial Real Estate Act. Added by Acts 1999, 76th Leg., ch. 1571, Sec....
• Texas Section 62.002 - Applicability
  (a) This chapter applies only to real estate that is commercial real estate on the date the notice of lien is filed under this chapter....
• Texas Section 62.003 - Definitions
  In this chapter: (1) "Broker" means a person who: (A) is licensed as a broker under Chapter 1101, Occupations Code, and is not acting as...
• Texas Section 62.004 - Payable Commission And Earned Commission
  (a) A commission is payable at the time provided in the commission agreement. If payment of the commission is conditioned on the occurrence of an...

SUBCHAPTER B BROKER'S LIEN

• Texas Section 62.005 - Broker's Address For Receipt Of Notice
  A seller, lessor, buyer, or tenant shall send any notice required to be sent to the broker under this chapter to the broker: (1) at...
• Texas Section 62.021 - Person Entitled To Lien
  (a) A broker has a lien on a seller's or lessor's commercial real estate interest in the amount specified by the commission agreement if: (1)...
• Texas Section 62.022 - Waiver, Release, Or Discharge Of Lien; Assumption Of Commission Obligation
  (a) Except as provided by Subsection (b), the waiver of a broker's right to a lien under this chapter, or a release given for the...
• Texas Section 62.023 - Affidavit Identifying Broker
  If requested by the buyer, the buyer's authorized agent, or the escrow agent for the commercial real estate transaction, the seller of commercial real estate...
• Texas Section 62.024 - Filing Of Notice Of Lien
  (a) A broker claiming a lien under this chapter may not file a notice of lien unless the commission on which the lien is based...
• Texas Section 62.025 - Contents Of Notice Of Lien
  The notice of lien must be signed by the broker or by a person authorized to sign on behalf of the broker and must contain...
• Texas Section 62.026 - Notice Of Filing
  (a) In this section, "business day" means a day other than a Saturday, Sunday, or holiday recognized by this state. (b) Not later than one...
• Texas Section 62.027 - Inception Of Broker's Lien
  (a) A broker's lien attaches to the commercial real estate interest owned by the person obligated to pay the commission on the date the notice...
• Texas Section 62.028 - Priority
  (a) A recorded lien, mortgage, or other encumbrance on commercial real estate, including a recorded lien securing revolving credit and future advances for a loan,...
• Texas Section 62.029 - Subordination
  (a) If the person obligated to pay the commission sells that person's commercial real estate interest, the broker's lien is subordinate to a recorded purchase-money...
• Texas Section 62.030 - Mixed-use Real Estate
  If real estate is zoned or restricted for more than one use, the broker's lien attaches only to the portions of the real estate that...

SUBCHAPTER C TIME FOR FILING NOTICE OF LIEN

• Texas Section 62.031 - Change In Use Of Real Estate
  (a) Except as provided by Subsection (b), any change in the use of the real estate does not affect a broker's lien if the notice...

SUBCHAPTER D ENFORCEMENT OF LIEN

• Texas Section 62.041 - Time To File
  (a) If a broker has earned a commission under a commission agreement signed by a seller or the seller's authorized agent, a broker must record...
• Texas Section 62.061 - Suit To Foreclose Lien
  (a) A broker may not bring a suit to foreclose a lien under this chapter unless the commission is earned and payable. A broker may...
• Texas Section 62.062 - Statute Of Limitations
  (a) Except as provided by this section, a broker claiming a lien under this chapter must bring a suit to foreclose the lien on or...

SUBCHAPTER E RELEASE OF LIEN

• Texas Section 62.063 - Assessment Of Costs, Fees, And Interest
  The prevailing party in a suit brought under this subchapter is entitled to court costs, reasonable attorney's fees, and prejudgment interest from the date the...

SUBCHAPTER F ESCROW OF DISPUTED AMOUNTS

• Texas Section 62.081 - Release Of Lien
  (a) Not later than the fifth day after the date a broker receives a written request from the owner of a commercial real estate interest...
• Texas Section 62.101 - Escrow Account
  If a claim for a lien under a recorded notice of lien is not paid or assumed at the closing of a sale, lease, or...
• Texas Section 62.102 - Named Escrow Agent
  If an escrow agent is named in the contract on which the transaction or conveyance is based, the escrow account shall be established with the...
• Texas Section 62.103 - Costs Of Interpleader
  Related costs for any interpleader action may be deducted from the escrow account by the person maintaining the escrow account. Added by Acts 1999, 76th...
• Texas 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...
• Texas Section 62.105 - Term Of Escrow Account
  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...

SUBCHAPTER G BOND TO INDEMNIFY AGAINST LIEN

• Texas Section 62.106 - Extinguishment Of Lien Upon Escrow
  When the escrow account is established under this subchapter, the broker's lien against the commercial real estate is extinguished and becomes a lien on the...
• Texas Section 62.121 - Bond
  (a) If a lien is fixed or is attempted to be fixed by a recorded instrument under this chapter, any person may file a bond...
• Texas Section 62.122 - Bond Requirements
  The bond must: (1) describe the commercial real estate on which the lien is claimed; (2) refer to the lien claimed in a manner sufficient...
• Texas Section 62.123 - Notice Of Bond
  (a) After the bond is filed, the county clerk shall issue notice of the bond to all named obligees. (b) A copy of the bond...
• Texas Section 62.124 - Recording Of Bond And Notice
  (a) The county clerk shall record the bond, the notice, and a certificate of mailing in the real property records. (b) In acquiring an interest...

SUBCHAPTER H REMEDIES

• Texas Section 62.125 - Action On Bond
  (a) A party making or holding a lien claim may not sue on the bond later than the last date on which a person may...
• Texas Section 62.141 - Owner's Or Tenant's Remedies
  (a) An owner or tenant may file suit against a broker under this chapter. (b) In an action filed under this section, the court shall...
• Texas Section 62.142 - Broker's Remedies
  (a) A broker may file suit against an owner or tenant to enforce a commission agreement. (b) If the court finds that the broker waived...

Last modified: September 28, 2016