Texas § PR.62.022 - WAIVER, RELEASE, OR DISCHARGE OF LIEN

§ PR.62.022. WAIVER, RELEASE, OR DISCHARGE OF LIEN

WAIVER, RELEASE, OR DISCHARGE OF LIEN; ASSUMPTION OF COMMISSION OBLIGATION. (a) Except as provided by Subsection (b), the waiver of a broker's right to a lien under this chapter, or a release given for the purpose of releasing the broker's lien before the commission is satisfied or forgiven, is void. (b) A broker's entitlement to a lien on the interest of an owner or tenant in commercial real estate shall be automatically waived if: (1) the commission is earned and payable for services provided relating to a lease transaction; and (2) the commission agreement is included as a provision of the lease agreement. (c) A lien under this chapter is discharged by: (1) a court order discharging the lien; (2) paying the commission to the broker named in the commission agreement; or (3) establishing an escrow account described by Subchapter F. (d) A person who assumes an owner's or tenant's commercial real estate interest is bound by a commission agreement included in a lease agreement unless an escrow account is established under Subchapter F or a bond is provided under Subchapter G. (e) This section does not affect the rights of a mortgagee who forecloses on commercial real estate and does not assume the lease on which a commission agreement is based. Added by Acts 1999, 76th Leg., ch. 1571, Sec. 1, eff. Aug. 30, 1999.