| 1 | 1 | | 81R8055 AJA-D |
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| 2 | 2 | | By: Thompson H.B. No. 1760 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the filing of an action in connection with foreclosure |
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| 8 | 8 | | of a lien on residential real property. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Chapter 51, Property Code, is amended by adding |
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| 11 | 11 | | Section 51.010 to read as follows: |
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| 12 | 12 | | Sec. 51.010. TIME FOR FILING CERTAIN ACTIONS AGAINST |
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| 13 | 13 | | LIENHOLDER. (a) Subject to this section, an owner of residential |
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| 14 | 14 | | real property that is subject to a contract lien may file an action |
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| 15 | 15 | | against the lienholder for a claim that arises out of the |
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| 16 | 16 | | transaction under which the lien attached, regardless of whether |
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| 17 | 17 | | the action would otherwise be barred by limitation, if the |
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| 18 | 18 | | lienholder: |
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| 19 | 19 | | (1) serves the property owner with a notice of sale |
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| 20 | 20 | | under Section 51.002; or |
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| 21 | 21 | | (2) conducts a foreclosure sale of the property under |
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| 22 | 22 | | Section 51.002. |
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| 23 | 23 | | (b) An action filed under this section must be filed not |
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| 24 | 24 | | later than the 30th day after the later of: |
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| 25 | 25 | | (1) the date of the proposed foreclosure sale, as it |
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| 26 | 26 | | appears in the notice of sale, regardless of whether the sale |
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| 27 | 27 | | occurs; or |
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| 28 | 28 | | (2) the date the foreclosure sale occurs. |
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| 29 | 29 | | SECTION 2. The change in law made by this Act applies only |
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| 30 | 30 | | to a notice of sale given on or after the effective date of this Act |
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| 31 | 31 | | or to a foreclosure sale under Section 51.002, Property Code, for |
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| 32 | 32 | | which the notice of sale was given on or after the effective date of |
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| 33 | 33 | | this Act. A notice of sale given before the effective date of this |
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| 34 | 34 | | Act or a foreclosure sale for which the notice of sale was given |
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| 35 | 35 | | before the effective date of this Act is governed by the law in |
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| 36 | 36 | | effect immediately before the effective date of this Act, and that |
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| 37 | 37 | | law is continued in effect for that purpose. |
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| 38 | 38 | | SECTION 3. This Act takes effect immediately if it receives |
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| 39 | 39 | | a vote of two-thirds of all the members elected to each house, as |
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| 40 | 40 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 41 | 41 | | Act does not receive the vote necessary for immediate effect, this |
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| 42 | 42 | | Act takes effect September 1, 2009. |
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