Tex. Transp. Code § 203.061 · Subchapter D. ACQUISITION OF PROPERTY
PAYMENT PROCEDURE IF OWNER FAILS TO DELIVER EXECUTED DEED; ESCROW.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If the owner of property acquired by the department under this subchapter fails to deliver an executed deed before payment of consideration, the comptroller may issue a warrant on the appropriate account in payment of the consideration. The consideration shall be placed in escrow with a national or state bank that is:
(1) authorized to do business in this state; and
(2) located in the county of the residence of the owner or the county in which the real property is located.
(b) If there is not a bank that satisfies the requirements of Subsection (a)(2), the consideration shall be placed in a national or state bank authorized to do business in this state in an adjoining county or the nearest available banking facility.
(c) Consideration placed in escrow under this section shall be delivered to the owner on receipt of the properly executed deed.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.203.htm
- Text hash
- sha256 c45a363a1e5a2efc2cb75f76b857a75690c0901efccc73fb116a06a0de8f8dea
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Transp. Code § 203.061. Each shows the citation as that text prints it.
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.