§ 149.001 Definitions
§ 149.002 Applicability
§ 149.003 Limitations On Successor Asbestos-Related Liabilities
§ 149.004 Establishing Fair Market Value of Total Gross Assets
§ 149.005 Adjustment
§ 149.006 Scope of Chapter

Terms Used In Texas Civil Practice and Remedies Code Chapter 149 - Limitations in Civil Actions of Liabilities Relating to Certain Mergers or Consolidations

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bequest: Property gifted by will.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Effects: includes all personal property and all interest in that property. See Texas Government Code 312.011
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: means real and personal property. See Texas Government Code 311.005
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.