Texas Occupations Code 1101.607 – Issues At Hearing
Terms Used In Texas Occupations Code 1101.607
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
At the hearing on the application for payment from the trust account, the aggrieved person must show:
(1) that the judgment is based on facts allowing recovery under this subchapter;
(2) that the person is not:
(A) the spouse of the judgment debtor or the personal representative of the spouse;
(B) a license or certificate holder who is seeking to recover compensation, including a commission, in the real estate transaction that is the subject of the application for payment; or
(C) related to the judgment debtor within the first degree by consanguinity;
(3) that, according to the best information available, the judgment debtor does not have sufficient attachable assets in this or another state to satisfy the judgment;
(4) the amount that may be realized from the sale of assets liable to be sold or applied to satisfy the judgment; and
(5) the balance remaining due on the judgment after application of the amount under Subdivision (4).