Texas Finance Code 348.413 – Transfer of Equity
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(a) With the written consent of the holder, a retail buyer may transfer at any time the buyer’s equity in the motor vehicle subject to the retail installment contract to another person.
(b) The holder may charge for the transfer of equity an amount that does not exceed $25.
Terms Used In Texas Finance Code 348.413
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005