Texas Property Code

§ 64.057 — EFFECT OF ENFORCEMENT

PR § 64.057Title 5. EXEMPT PROPERTY AND LIENS · Part B. LIENS · Ch. 64. ASSIGNMENT OF RENTS TO LIENHOLDER · Art. B. ASSIGNMENT OF RENTS

Statute text

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The enforcement of an assignment of rents by a method provided by Section 64.054 or 64.055, the application of proceeds by the assignee under Section 64.059 after enforcement, the payment of expenses under Section 64.058, or an action under Section 64.060 does not:

(1)make the assignee a mortgagee in possession of the real property from which the rents arise;

(2)make the assignee an agent of the assignor;

(3)constitute an election of remedies that precludes a later action to enforce the secured obligation;

(4)make the secured obligation unenforceable;

(5)limit any right available to the assignee with respect to the secured obligation; or

…

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 636 (S.B. 889), Sec. 2, eff. June 17, 2011.