Texas Statutes (Last Updated: January 4, 2014) |
PROPERTY CODE |
Title 5. EXEMPT PROPERTY AND LIENS |
Subtitle B. LIENS |
Chapter 64. ASSIGNMENT OF RENTS TO LIENHOLDER |
Subchapter B. ASSIGNMENT OF RENTS |
Sec. 64.059. APPLICATION OF PROCEEDS TO EXPENSES OF PROTECTING REAL PROPERTY; CLAIMS AND DEFENSES OF TENANT
Latest version.
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(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 and 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 , Sec. 2, eff. June 17, 2011.