Texas Finance Code 159.102 – Foreign Language Requirement
Current as of: 2024 | Check for updates
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Terms Used In Texas Finance Code 159.102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: means real and personal property. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
If the negotiations that precede the execution of the wrap mortgage loan agreement are conducted primarily in a language other than English, the wrap lender shall provide a copy of a written disclosure statement required under § 159.101 of this code or Section 5.016, Property Code, in that language to the wrap borrower.