Texas Property Code
§ 209.011 — RIGHT OF REDEMPTION AFTER FORECLOSURE
PR § 209.011Title 11. RESTRICTIVE COVENANTS · Ch. 209. TEXAS RESIDENTIAL PROPERTY OWNERS PROTECTION ACT
Statute text
View on source(a)A property owners' association or other person who purchases occupied property at a sale foreclosing a property owners' association's assessment lien must commence and prosecute a forcible entry and detainer action under Chapter 24 to recover possession of the property.
(b)The owner of property in a residential subdivision or a lienholder of record may redeem the property from any purchaser at a sale foreclosing a property owners' association's assessment lien not later than the 180th day after the date the association mails written notice of the sale to the owner and the lienholder under Section 209.010. A lienholder of record may not redeem the property as provided herein before 90 days after the date the association mails written notice of the sale to the lot owner and the lienholder under Section 209.010, and only if the lot owner has not previously redeemed.
(c)A person who purchases property at a sale foreclosing a property owners' association's assessment lien may not transfer ownership of the property to a person other than a redeeming lot owner during the redemption period.
(d)To redeem property purchased by the property owners' association at the foreclosure sale, the lot owner or lienholder must pay to the association:
(1)all amounts due the association at the time of the foreclosure sale;
(2)interest from the date of the foreclosure sale to the date of redemption on all amounts owed the association at the rate stated in the dedicatory instruments for delinquent assessments or, if no rate is stated, at an annual interest rate of 10 percent;
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 1176 (H.B. 3479), Sec. 3, eff. September 1, 2009.