Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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 if: (1) the broker provides a copy of the notice of lien that complies with Sections 62.025 and 62.026;(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. 8/30/1999.