Texas Property Code Chapter 61 – Motor Vehicle Mortgagee’s Lien
Current as of: 2024 | Check for updates
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| § 61.001 | Definitions |
| § 61.002 | Lien |
| § 61.003 | Property to Which Lien Attaches |
| § 61.004 | Amount of Lien |
| § 61.005 | Discharge of Lien |
| § 61.006 | Attorney’s Fees |
Terms Used In Texas Property Code Chapter 61 - Motor Vehicle Mortgagee's Lien
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Donor: The person who makes a gift.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Property: means real and personal property. See Texas Government Code 311.005
- 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.