Texas Finance Code 353.410 – 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 commercial 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:
(1) $25 for a commercial vehicle that is not a heavy commercial vehicle; or
(2) $50 for a heavy commercial vehicle.
Terms Used In Texas Finance Code 353.410
- 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