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Texas Statutes (Last Updated: January 4, 2014) |
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OCCUPATIONS CODE |
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Title 7. PRACTICES AND PROFESSIONS RELATED TO REAL PROPERTY AND HOUSING |
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Subtitle A. PROFESSIONS RELATED TO REAL ESTATE |
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Chapter 1101. REAL ESTATE BROKERS AND SALESPERSONS |
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Subchapter M. REAL ESTATE RECOVERY TRUST ACCOUNT |
Sec. 1101.607. ISSUES AT HEARING
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At the hearing on the application for payment from the trust account, the aggrieved person must show:
(1) that the judgment is based on facts allowing recovery under this subchapter;
(2) that the person is not:
(A) the spouse of the judgment debtor or the personal representative of the spouse; or
(B) a license or certificate holder who is seeking to recover compensation, including a commission, in the real estate transaction that is the subject of the application for payment;
(3) that, according to the best information available, the judgment debtor does not have sufficient attachable assets in this or another state to satisfy the judgment;
(4) the amount that may be realized from the sale of assets liable to be sold or applied to satisfy the judgment; and
(5) the balance remaining due on the judgment after application of the amount under Subdivision (4).