Texas Finance Code 347.402 – Possessory Lien
(a) The owner of the real property on which a manufactured home is or has been located and for which rental charges have not been paid has a possessory lien that is not subject to § 347.401 to secure rental charges described by Subsection (b) if:
(1) the creditor described by § 347.401 repossesses the manufactured home when the charges have not been paid; and
(2) the owner of the real property has mailed to the creditor by certified mail, return receipt requested, written notice of the unpaid charges.
(b) The possessory lien secures rental charges that begin to accrue:
(1) for a manufactured home that is abandoned or voluntarily surrendered by the consumer, from and after the 15th day after the date on which the creditor receives the written notice of the unpaid charges; or
(2) for a manufactured home that is not abandoned or voluntarily surrendered by the consumer, from and after the 15th day after the first day on which both:
(A) all notice and grace periods that the creditor is required to give the consumer before repossession under any applicable contract or law have expired; and
(B) the creditor has received the written notice of the unpaid charges.
Terms Used In Texas Finance Code 347.402
- Consumer: means a person to whom credit is extended in a credit transaction. See Texas Finance Code 347.002
- Contract: A legal written agreement that becomes binding when signed.
- Creditor: means a:
(A) person who extends credit or arranges for the extension of credit in a credit transaction; or
(B) retailer or broker, as defined by § 1201. See Texas Finance Code 347.002 - Lien: A claim against real or personal property in satisfaction of a debt.
- Manufactured home: has the meaning assigned by § 1201. See Texas Finance Code 347.002
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) The maximum daily rental charge that is secured by the possessory lien is equal to one-thirtieth of the monthly rental payment last paid by the consumer.