Texas Business & Commerce Code

§ 9.619 — TRANSFER OF RECORD OR LEGAL TITLE

BC § 9.619Title 1. UNIFORM COMMERCIAL CODE · Ch. 9. SECURED TRANSACTIONS · Art. F. DEFAULT

Statute text

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(a)In this section, "transfer statement" means a record authenticated by a secured party stating:

(1)that the debtor has defaulted in connection with an obligation secured by specified collateral;

(2)that the secured party has exercised its post-default remedies with respect to the collateral;

(3)that, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and

(4)the name and mailing address of the secured party, debtor, and transferee.

(b)A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:

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Legislative history

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