Sec. 356.352. APPLICATION AND ORDER FOR RECONVEYANCE. On proper application and proof, the court may dispense with the requirements for a credit sale prescribed by Section 356.302 and order the reconveyance of foreclosed real estate to the former mortgage debtor or former owner if it appears to the court that:
(1) an application to redeem the real estate has been made by the former owner to a corporation or agency created by an Act of the United States Congress or of this state in connection with legislation for the relief of owners of mortgaged or encumbered homes, farms, ranches, or other real estate; and
(2) owning bonds of one of those federal or state corporations or agencies instead of the real estate would be in the estate's best interest.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Section: Previous 356.254 356.255 356.256 356.257 356.301 356.302 356.351 356.352 356.353 356.401 356.402 356.403 356.404 356.405 356.451 NextLast modified: September 28, 2016