Texas Civil Practice and Remedies Code 140B.001 – Definitions
Terms Used In Texas Civil Practice and Remedies Code 140B.001
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Fiduciary: A trustee, executor, or administrator.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Trustee: A person or institution holding and administering property in trust.
In this chapter:
(1) “Beneficial interest”:
(A) means the interest of a person:
(i) as a beneficiary under a trust established under the Texas Trust Code (Subtitle B, Title 9, Property Code) in which the trustee for the trust holds legal or record title to real property;
(ii) as a beneficiary under any other trust arrangement under which a trustee holds legal or record title to real property for the benefit of the person; or
(iii) under any other form of express fiduciary arrangement under which any other person holds legal or record title to real property for the benefit of the person; and
(B) does not include the interest of a shareholder in a corporation or the interest of a partner in either a general partnership or a limited partnership.
(2) “Cash or cash proceeds” includes:
(A) damages, penalties, or any other monetary payment;
(B) monetary proceeds from property forfeited to the state under Subchapter C; or
(C) any payment made by a defendant by reason of a decree or settlement in an action filed under Subchapter C.
(3) “Enterprise” means a legal entity, group of individuals associated in fact, or a combination of those entities and individuals.
(4) “Investigative agency” means the Department of Public Safety, the attorney general, or a local prosecutor.
(5) “Local prosecutor” means a district attorney, criminal district attorney, or county attorney with felony criminal jurisdiction.
(6) “Money” means funds as defined by § 34.01, Penal Code.
(7) “Real property” means any real property or any interest in real property, including any lease of or mortgage on real property.