Terms Used In Texas Health and Safety Code Chapter 246 > Subchapter D - Entrance Fee and Reserve Fund Escrow Accounts

• Contract: A legal written agreement that becomes binding when signed.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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
• Rule: includes regulation. See Texas Government Code 311.005
• Sell: means to transfer the ownership or the right of possession of an item to a person for consideration and includes a barter and an even exchange. See Texas Parks and Wildlife Code 1.101
• Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
• Year: means 12 consecutive months. See Texas Government Code 311.005