™Your Policy Risk Impact Agent
97 chapters · 1,782 sections in this title.
Tex. Property Code § 61.001 Definitions
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Sec. 61.001. DEFINITIONS. In this chapter: (1) "Motor vehicle" means any motor-driven or propelled vehicle required to be registered or licensed under the laws of this state. (2) "Mortgagee" means a secured party, as defined by Section 9.102, Business & Commerce Code, holding a l…
Tex. Property Code § 61.002 Lien
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Sec. 61.002. LIEN. A mortgagee has a lien on a cause of action or other claim of a mortgagor in connection with an accident that involves a motor vehicle on which the mortgagee has perfected a lien and that is attributable to the negligence of another person. Added by Acts 1989, …
Tex. Property Code § 61.003 Property To Which Lien Attaches
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Sec. 61.003. PROPERTY TO WHICH LIEN ATTACHES. The lien attaches to: (1) a cause of action for damages arising from property damage to a motor vehicle on which the mortgagee has perfected a lien caused by an accident that is attributable to the negligence of another person; (2) a …
Tex. Property Code § 61.004 Amount of Lien
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Sec. 61.004. AMOUNT OF LIEN. The amount of the lien is the lesser of: (1) the fair market value of the motor vehicle before the accident; (2) the reasonable cost of repair to the motor vehicle; or (3) the balance owed to the mortgagee by the mortgagor. Added by Acts 1989, 71st Le…