After Effects: Creating the "Ride Over" Effect

Alright, after many requests to see how this is done and never an easy answer here is a quick option using vector painting for those complex motion shots where creating masks is just too much of a hassle. This is actually a pretty simple concept, as long as you visualize a text layer on top of a video layer, and frame by frame erasing the desired parts of the text. This is where the job gets tedious as you have to edit frame by frame, but it's simple to learn how to do if you have time on your hands. There are very many different ways going about this, but I'm going to assume if I figured this out on my own then anybody can do it.

Alright first open up After Effects, start a composition, and import your video file and text file. If this is foreign territory for you then you need to get to the very basics. Lay down your video clip and text on top. How you lay your text down is up to you, just lay it on a separate track from the video. In this case I just used a transparent .psd file.
Now set the timeline marker to the first frame, select your text layer (not the clip) and go to Effect>Paint>Vector Paint. You'll see a little eraser tool come up and click on it. (note, don't expect those guidewires to come up, that's just a habit for me to have those on and I forgot to turn them off at that snapshot)
Now go to the first frame where the subject crosses the text that you want erased. And just take the eraser and erase any undesired text. Don't crap yourself when you see black smudge marks everywhere, that's normal for the eraser tool. (Tip: Zoom in for better accuracy)
Now you'll notice when you click off the eraser tool you'll see that the text just selected is missing, here you can erase more if desired.
Now go down to the time line and move the marker over to the very next frame, remember this is a frame by frame process. Now you just repeat the same thing you did for the last one. Just keep erasing frame by frame
Tip: Once you got the feel for this and know for the most part where your text is going to lay you can turn the opacity down, or all the way down and just lay the eraser down in any section where the subject is where you wouldn't want text to appear. Then when you are done turn it back up.

This is how the frame by frame process works, when you're done go back and check for errors, it gets very boring after awhile but you got to be dedicated... Good Luck!