Texas Health and Safety Code 246.075 – Escrow of Application Fee Not Required
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Terms Used In Texas Health and Safety Code 246.075
- 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.
This subchapter does not require the escrow of any nonrefundable portion of a deposit or entrance fee that:
(1) does not exceed an amount equal to two percent of the entrance fee; and
(2) is clearly designated as nonrefundable in the continuing care contract or reservation agreement.