Texas Property Code

§ 64.001 — DEFINITIONS

PR § 64.001Title 5. EXEMPT PROPERTY AND LIENS · Part B. LIENS · Ch. 64. ASSIGNMENT OF RENTS TO LIENHOLDER · Art. A. GENERAL PROVISIONS

Statute text

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In this chapter:

(1)"Assignee" means a person entitled to enforce a security instrument.

(2)"Assignment of rents" means a transfer of an interest in rents in connection with an obligation secured by real property from which the rents arise. The term does not include a contract for a charge authorized by Section 306.101, Finance Code, or a true sale of rents.

(3)"Assignor" means a person who makes a security instrument that creates an assignment of rents arising from real property or that person's successor in interest with respect to the real property.

(4)"Cash proceeds" means proceeds that are money, checks, deposit accounts, or the like.

(5)"Day" means a calendar day.

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Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 453 (S.B. 848), Sec. 1, eff. June 14, 2013.