§ 557.001 Definitions
§ 557.002 Notification by Lender to Insured Concerning Insurance Proceeds
§ 557.003 Lender’s Release or Refusal to Release Insurance Proceeds
§ 557.004 Payment of Interest; Rate
§ 557.005 Accrual of Interest
§ 557.006 Interest Not Required On Insurance Proceeds Applied to Reduce Note
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Terms Used In Texas Insurance Code Chapter 557 > Subchapter A - Insurance Proceeds Held by Lender Pending Repair of Residential Real Property

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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.
  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Year: means 12 consecutive months. See Texas Government Code 311.005