Tex. Occ. Code § 1101.610 · Subchapter M. REAL ESTATE RECOVERY TRUST ACCOUNT
PAYMENT LIMITS; ATTORNEY'S FEES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Payments from the trust account for claims, including attorney's fees, interest, and court costs, arising out of a single transaction may not exceed a total of $125,000, regardless of the number of claimants.
(b) Payments from the trust account for claims based on judgments against a single license or certificate holder may not exceed a total of $250,000 until the license or certificate holder has reimbursed the trust account for all amounts paid.
(c) If the court finds that the total amount of claims against a license or certificate holder exceeds the limitations in this section, the court shall proportionately reduce the amount payable on each claim.
(d) A person receiving payment from the trust account is entitled to receive reasonable attorney's fees in the amount determined by the court, subject to the limitations prescribed by this section.
(e) For purposes of this section, a business entity and the broker who is the business entity's designated broker are considered a single license holder.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 66, eff. January 1, 2016.
Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 14, eff. January 1, 2024.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1101.htm
- Text hash
- sha256 6318188b3135bd6976cdad785d66f4bb7c37bb81fd74fde1624bfa31a6a52de5
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.