Tex. Property Code § 82.158
ESCROW OF DEPOSITS
Texas · Texas Property Code · Status: effective
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- Citation
- Tex. Property Code § 82.158, ESCROW OF DEPOSITS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/564641
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Full text
A deposit made in connection with the purchase or reservation of a unit from a declarant shall be placed in escrow and held in this state in an account designated for that purpose by a real estate broker, an attorney, a title insurance company licensed in this state, an independent bonded escrow company, or an institution whose accounts are insured by a governmental agency or instrumentality until delivered to the declarant at closing, delivered to the declarant because of the purchaser's default under a contract to purchase the unit, or refunded to the purchaser. Escrow deposits may be placed in interest-bearing accounts, and the interest is payable as may be agreed in writing between the declarant and the purchaser.