Texas Property Code 77.206 – Fee for Recovery
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(a) A person who informs a potential claimant that the claimant may be entitled to claim property under this chapter may not contract for or receive from the claimant for services an amount that exceeds 10 percent of the value of the property recovered.
(b) A person who receives a fee for recovery from a claimant that exceeds 10 percent of the value of the property recovered is liable to the claimant for the amount of the fee plus attorney’s fees and expenses.
Terms Used In Texas Property Code 77.206
- Contract: A legal written agreement that becomes binding when signed.
- 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