Sec. 64.059. APPLICATION OF PROCEEDS TO EXPENSES OF PROTECTING REAL PROPERTY; CLAIMS AND DEFENSES OF TENANT. (a) Unless otherwise agreed by the assignee, an assignee that collects rents following enforcement under Section 64.054 or 64.055 is not obligated to apply the collected rents to the payment of expenses of protecting or maintaining the real property subject to an assignment of rents.
(b) Unless otherwise agreed by a tenant, the right of the assignee to collect rents from the tenant is subject to the terms of any agreement between the assignor and tenant or any claim or defense of the tenant arising from the assignor's nonperformance of that agreement.
Added by Acts 2011, 82nd Leg., R.S., Ch. 636 (S.B. 889), Sec. 2, eff. June 17, 2011.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 453 (S.B. 848), Sec. 9, eff. June 14, 2013.
Structure Texas Statutes
Title 5 - Exempt Property and Liens
Chapter 64 - Assignment of Rents to Lienholder
Subchapter B. Assignment of Rents
Section 64.053. Enforcement of Security Interest in Rents Generally
Section 64.054. Enforcement by Notice to Assignor
Section 64.055. Enforcement by Notice to Tenant
Section 64.056. Form of Notice to Tenant
Section 64.057. Effect of Enforcement
Section 64.058. Application of Proceeds Generally
Section 64.060. Turnover of Rents; Liability of Assignor
Section 64.061. Attachment, Perfection, and Priority of Assignee's Security Interest in Proceeds