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