Tex. Fin. Code § 345.357

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 345.357 - Prohibition on Certain Liens

A retail installment contract or retail charge agreement may not provide for a first lien on real property to secure the obligation, other than a lien:

(1) created by law on the recording of an abstract of judgment; or

(2) provided for or granted by a contract or series of contracts for the sale or construction and sale of a structure to be used as a residence if the time price differential provided in the contract or agreement does not exceed an annual percentage rate permitted under this chapter or Chapter 303.

Tex. Fin. Code § 345.357

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.