Tex. Prop. Code § 61.004

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

Section 61.004 - Amount of Lien

The amount of the lien is the lesser of:

(1) the fair market value of the motor vehicle before the accident;

(2) the reasonable cost of repair to the motor vehicle; or

(3) the balance owed to the mortgagee by the mortgagor.

Tex. Prop. Code § 61.004

Amended by Acts 1993, 73rd Leg., ch. 48, Sec. 11, eff. 9/1/1993.

Added by Acts 1989, 71st Leg., ch. 171, Sec. 1, eff. 9/1/1989.