Texas Property Code - Section 51.0075. Authority Of Trustee Or Substitute Trustee
Section: Previous 51.0021 51.0025 51.003 51.004 51.005 51.006 51.007 51.0075 51.008 51.009 52.001 52.0011 52.002 52.003 52.004 Next
§ 51.0075. AUTHORITY OF TRUSTEE OR SUBSTITUTE TRUSTEE. (a) A trustee or substitute trustee may set reasonable conditions for conducting the public sale if the conditions are announced before bidding is opened for the first sale of the day held by the trustee or substitute trustee. (b) A trustee or substitute trustee is not a debt collector. (c) Notwithstanding any agreement to the contrary, a mortgagee may appoint or may authorize a mortgage servicer to appoint a substitute trustee or substitute trustees to succeed to all title, powers, and duties of the original trustee. A mortgagee or mortgage servicer may make an appointment or authorization under this subsection by power of attorney, corporate resolution, or other written instrument. (d) A mortgage servicer may authorize an attorney to appoint a substitute trustee or substitute trustees on behalf of a mortgagee under Subsection (c). (e) The name and a street address for a trustee or substitute trustees shall be disclosed on the notice required by Section 51.002(b). Added by Acts 2003, 78th Leg., ch. 554, § 1, eff. Jan. 1, 2004. Amended by Acts 2005, 79th Leg., ch. 1231, § 1, eff. Sept. 1, 2005.
Last modified: August 11, 2007