Texas Business & Commerce Code
§ 22.006 — SALE PROCEEDS
BC § 22.006Title 2. COMPETITION AND TRADE PRACTICES · Ch. 22. PUBLIC SALE OF RESIDENTIAL REAL PROPERTY UNDER POWER OF SALE
Statute text
View on source(a)The trustee or substitute trustee shall ensure that funds received at the sale are maintained in a separate account until distributed. The trustee or substitute trustee shall cause to be maintained a written record of deposits to and disbursements from the account.
(b)The trustee or substitute trustee shall make reasonable attempts to identify and locate the persons entitled to all or any part of the sale proceeds.
(c)In connection with the sale and related post-sale actions to identify persons with legal claims to sale proceeds, determine the priority of any claims, and distribute proceeds to pay claims, a trustee or substitute trustee may receive:
(1)reasonable actual costs incurred, including costs for evidence of title;
(2)a reasonable trustee's or substitute trustee's fee; and
(3)reasonable trustee's or substitute trustee's attorney's fees.
…
Legislative history
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.