Sec. 62.105. TERM OF ESCROW ACCOUNT

Latest version.

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.

                    
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