Tex. Prop. Code § 162.0031 · Subchapter A. CONSTRUCTION PAYMENTS AND LOAN RECEIPTS
BENEFICIARY'S ASSIGNMENT OF INTEREST IN UNPAID TRUST FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
An assignment by a beneficiary of the beneficiary's interest in unpaid trust funds under this chapter may not be enforced unless:
(1) the assignment is:
(A) made in writing not earlier than the date the assignee has paid the beneficiary in good and sufficient funds for the assignment; and
(B) not made as part of the beneficiary's construction contract;
(2) the assignee is a beneficiary, trustee, or property owner under the contract for the construction or repair of an improvement on real property in connection with which the payment of trust funds is made; and
(3) written notice of the assignment is provided to the property owner and the contractor on the project not later than the seventh day after the date the assignment is made.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 485 (S.B. 841), Sec. 2, eff. September 1, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.162.htm
- Text hash
- sha256 aa2c0a65df774624babc14f3d0202e4104d1b3ed681b0676f05bb6ad632bdd66
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Prop. Code § 162.0031. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.