PROPERTY CODE
TITLE 4. ACTIONS AND REMEDIES
CHAPTER 30. WRIT OF ASSISTANCE FOR
REPOSSESSION
OF AIRCRAFT
Sec. 30.01. DEFINITIONS. In this chapter:
(1) "Aircraft" means a self-propelled motor vehicle that can be used to transport a person by flight in the air.
(2) "
Repossession
" means the recovery of an aircraft that has been sold under a security agreement containing a
repossession
clause authorizing the lender to recover the aircraft if the borrower defaults under the agreement.
(3) "
Repossession
agent" means an individual who is authorized to engage in a
repossession
for a lender.
Added by Acts 2015, 84th Leg., R.S., Ch. 1125 (H.B. 3901), Sec. 1, eff. September 1, 2015.
Sec. 30.02. WRIT OF ASSISTANCE FOR
REPOSSESSION
OF AIRCRAFT. (a) A writ of assistance for the
repossession
of an aircraft authorizes a peace officer to assist and protect a
repossession
agent in gaining possession of the aircraft while the agent:
(1) secures the aircraft on site; or
(2) prepares the aircraft, which may include a mechanical inspection, for removal from the site by flight or otherwise to another location.
(b) A writ of assistance for the
repossession
of an aircraft is valid for 30 days.
(c) A justice court may grant unlimited extensions of a writ of assistance issued under this chapter.
Added by Acts 2015, 84th Leg., R.S., Ch. 1125 (H.B. 3901), Sec. 1, eff. September 1, 2015.
Sec. 30.03. PETITION FOR WRIT OF ASSISTANCE. (a) A
repossession
agent may file a petition in a justice court for a writ of assistance for the
repossession
of an aircraft.
(b) The
repossession
agent is entitled to the writ if the
repossession
agent establishes that:
(1) the aircraft is subject to the proposed
repossession
; and
(2) the
repossession
agent is authorized to engage in the
repossession
.
(c) The petition for the writ must include a copy of:
(1) the security agreement relating to the aircraft;
(2) the notice of default under the security agreement sent by the lender to the borrower;
(3) the instrument in which a power of attorney for the
repossession
is granted to the
repossession
agent by the lender; and
(4) the results of a title search of the Federal Aviation Administration's records for the aircraft.
Added by Acts 2015, 84th Leg., R.S., Ch. 1125 (H.B. 3901), Sec. 1, eff. September 1, 2015.