Texas Property Code 68.055 – Creation and Priority of Rico Lien
(a) Filing a RICO lien notice creates, from the time of its filing, a lien in favor of the state on the following property of the person named in the notice and against any other names set forth in the notice:
(1) any real property situated in the county where the notice is filed then or thereafter owned by the person or under any of the names; and
(2) any beneficial interest situated in the county where the notice is filed then or thereafter owned by the person or under any of the names.
(b) The lien shall commence and attach as of the time of filing of a RICO lien notice and shall continue thereafter until expiration, termination, or release of the notice under this subchapter. The lien created in favor of the state is superior to the interest of any other person in the real property or beneficial interest if the interest is acquired subsequent to the filing of the notice.
Terms Used In Texas Property Code 68.055
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
(c) For purposes of this section, a beneficial interest is considered to be located where real property owned by the trustee is located.