Texas Finance Code 36.207 – Receiver’s Title and Priority
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(a) The receiver has the title to all the bank’s property, contracts, and rights of action, wherever located, beginning on the date the bank is closed for liquidation.
(b) The rights of the receiver have priority over a contractual lien or statutory landlord’s lien under Chapter 54, Property Code, judgment lien, attachment lien, or voluntary lien that arises after the date of the closing of the bank for liquidation.
Terms Used In Texas Finance Code 36.207
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: means real and personal property. See Texas Government Code 311.005
(c) The filing or recording of a receivership order in a record office of this state gives the same notice that would be given by a deed, bill of sale, or other evidence of title filed or recorded by the bank in liquidation. The recording clerk shall index a recorded receivership order in the records to which the order relates.