Current as of April 14, 2021 | Updated by FindLaw Staff
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(a) During the progress of work under an original contract for which a mechanic's lien may be claimed and for 30 days after the work is completed, the owner shall retain:
(1) 10 percent of the contract price of the work to the owner; or
(2) 10 percent of the value of the work, measured by the proportion that the work done bears to the work to be done, using the contract price or, if there is no contract price, using the reasonable value of the completed work.
(b) In this section, “owner” includes the owner's agent, trustee, or receiver.
Cite this article: FindLaw.com - Texas Property Code - PROP § 53.101. Required Retainage - last updated April 14, 2021 | https://codes.findlaw.com/tx/property-code/prop-sect-53-101/
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