Sec. 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 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.
Added by Acts 1999, 76th Leg., ch. 1571, Sec. 1, eff. Aug. 30, 1999.
Structure Texas Statutes
Title 5 - Exempt Property and Liens
Chapter 62 - Broker's and Appraiser's Lien on Commercial Real Estate
Subchapter F. Escrow of Disputed Amounts
Section 62.101. Escrow Account
Section 62.102. Named Escrow Agent
Section 62.103. Costs of Interpleader
Section 62.104. Refusal to Establish Escrow Account or Bond