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Texas Business & Commerce Code

§ 9.604 — PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES

BC § 9.604Title 1. UNIFORM COMMERCIAL CODE · Ch. 9. SECURED TRANSACTIONS · Art. F. DEFAULT

Statute text

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(a)If a security agreement covers both personal and real property, a secured party may proceed:
(1)under this subchapter as to the personal property without prejudicing any rights with respect to the real property; or
(2)as to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this subchapter do not apply.
(b)Subject to Subsection (c), if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(1)under this subchapter; or
(2)in accordance with the rights with respect to real property, in which case the other provisions of this subchapter do not apply.
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Legislative history

Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.

Source: Texas Business & Commerce Code § 9.604 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.