The XYZ legislative session passed TARA – the Texas Assignment of Rents Act to help lenders using out-dated Deeds of Trust capture an Assignment of Rents. While most commercial real estate lending forms employ these, they have been haphazard in consumer / residential lending.
Effectively, any Deed of Trust after June 2015 will marry an Assignment of Rents to the Deed of Trust, unless such assignment is specifically excluded. Sort of a Shotgun Wedding.
TARA does not cover Home Equity Lending. (Young scholars, tell us why?)
Further, TARA has yet to be challenged as to Constitutionality of adding additional liens against a homestead, especially in a Renewal & Extension Rider of an original purchase money lien which did not encumber the property’s rents.