Texas Government Code 4005.014 – Mortgages and Liens
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Terms Used In Texas Government Code 4005.014
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
The exemption provided by § 4005.001 applies to a single transaction in which:
(1) the securities disposed of consist exclusively of notes or bonds secured by a mortgage or vendor’s lien on real property or tangible personal property; and
(2) the entire mortgage or lien is sold or transferred with all of the notes or bonds secured by the mortgage or lien.