Texas Family Code 157.329 – No Liability for Compliance With Notice of Levy
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Terms Used In Texas Family Code 157.329
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
A financial institution that possesses or has a right to an obligor’s assets for which a notice of levy has been delivered and that surrenders the assets or right to assets to a child support lien claimant is not liable to the obligor or any other person for the property or rights surrendered.