Texas Estates Code

§ 355.159 — MANNER OF FORECLOSURE; MINIMUM PRICE

ES § 355.159Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part H. CONTINUATION OF ADMINISTRATION · Ch. 355. PRESENTMENT AND PAYMENT OF CLAIMS · Art. D. PRESENTMENT AND PAYMENT OF SECURED CLAIMS FOR MONEY

Statute text

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(a)When the court grants a claim holder the right of foreclosure at a hearing under Section 355.158, the court shall authorize the claim holder to foreclose the claim holder's mortgage, lien, or security interest:

(1)in accordance with the provisions of the document creating the mortgage, lien, or security interest; or

(2)in any other manner allowed by law.

(b)Based on the evidence presented at the hearing, the court may set a minimum price for the property to be sold by foreclosure that does not exceed the fair market value of the property. If the court sets a minimum price, the property may not be sold at the foreclosure sale for a lower price.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.