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Texas Property Code - Section 51.0075. Authority Of Trustee Or Substitute Trustee

Legal Research Home > Texas Laws > Property Code > Texas Property Code - Section 51.0075. Authority Of Trustee Or Substitute Trustee

§ 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.

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Last modified: August 11, 2007