Texas Transportation Code
§ 501.114 — ASSIGNMENT OF LIEN
TN § 501.114Title 7. VEHICLES AND TRAFFIC · Part A. CERTIFICATES OF TITLE AND REGISTRATION OF VEHICLES · Ch. 501. CERTIFICATE OF TITLE ACT · Art. F. SECURITY INTERESTS
Statute text
View on source(a)A lienholder may assign a lien recorded under Section 501.113 without making any filing or giving any notice under this chapter. The lien assigned remains valid and perfected and retains its priority, securing the obligation assigned to the assignee, against transferees from and creditors of the debtor, including lien creditors, as defined by Section 9.102, Business & Commerce Code.
(b)An assignee or assignor may, but need not to retain the validity, perfection, and priority of the lien assigned, as evidence of the assignment of a lien recorded under Section 501.113:
(1)apply to the county assessor-collector for the assignee to be named as lienholder on the title; and
(2)notify the debtor of the assignment.
(c)Failure to make application under Subsection (b) or notify a debtor of an assignment does not create a cause of action against the recorded lienholder, the assignor, or the assignee or affect the continuation of the perfected status of the assigned lien in favor of the assignee against transferees from and creditors of the debtor, including lien creditors, as defined by Section 9.102, Business & Commerce Code.
(d)An application under Subsection (b) must be acknowledged by the assignee.
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 814 (S.B. 1592), Sec. 5, eff. June 19, 2009. Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357), Sec. 53, eff. January 1, 2012.