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2023 Texas Statutes
Property Code
Title 5 - Exempt Property and Liens
Subtitle B - Liens
Chapter 61 - Motor Vehicle Mortgagee's Lien
Section 61.004. Amount of Lien
Universal Citation:
TX Prop § 61.004 (2023)
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Sec. 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.
Added by Acts 1989, 71st Leg., ch. 171, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1993, 73rd Leg., ch. 48, Sec. 11, eff. Sept. 1, 1993.
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