Texas Property Code 70.407 – Discharge of Lien
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(a) A lien created under this subchapter is discharged when:
(1) the lienholder receives full payment for the agricultural crop; or
(2) payment is tendered by the warehouse or the contract purchaser, as applicable, and the lienholder, without coercion, defers payment.
(b) If payment for the agricultural crop is received in the form of a negotiable instrument, full payment is received when the negotiable instrument clears all financial institutions.
Terms Used In Texas Property Code 70.407
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.