Texas § PR.64.052 - RECORDATION AND PERFECTION OF SECURITY INTEREST IN RENTS

§ PR.64.052. RECORDATION AND PERFECTION OF SECURITY INTEREST IN RENTS

RECORDATION AND PERFECTION OF SECURITY INTEREST IN RENTS; PRIORITY OF INTERESTS IN RENTS. (a) A security instrument creating an assignment of rents may be recorded in the county in which any part of the real property is located in accordance with this code. (b) On recordation of a security instrument creating an assignment of rents, the security interest in the rents is perfected. This subsection prevails over a conflicting provision in the security instrument creating the assignment of rents or a law of this state other than this chapter that prohibits or defers enforcement of the security interest until the occurrence of a subsequent event, including a subsequent default of the assignor, the assignee's obtaining possession of the real property, or the appointment of a receiver. (c) Except as provided by Subsection (d), a perfected security interest in rents has priority over the rights of a person who, after the security interest is perfected, acquires: (1) a lien on or other security interest in the rents or the real property from which the rents arise; or (2) an interest in the rents or the real property from which the rents arise. (d) An assignee with a perfected security interest in rents has the same priority over the rights of a person described by Subsection (c) with respect to future advances as the assignee has with respect to the assignee's security interest in the real property from which the rents arise. 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. 4, eff. June 14, 2013.