78R7314 KCR-D
By: Riddle H.B. No. 1871
A BILL TO BE ENTITLED
AN ACT
relating to the date for a sale of real property under a contract
lien.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 51.002(a), Property Code, is amended to
read as follows:
(a) A sale of real property under a power of sale conferred
by a deed of trust or other contract lien must be a public sale at
auction held between 10 a.m. and 4 p.m. of the third [first] Tuesday
of a month. The sale must take place at the county courthouse in the
county in which the land is located, or if the property is located
in more than one county, the sale may be made at the courthouse in
any county in which the property is located. The commissioners
court shall designate the area at the courthouse where the sales are
to take place and shall record the designation in the real property
records of the county. The sale must occur in the designated area.
If no area is designated by the commissioners court, the notice of
sale must designate the area at the courthouse where the sale
covered by that notice is to take place, and the sale must occur in
that area.
SECTION 2. This Act takes effect September 1, 2003, and
applies only to a public sale notice of which is posted on or after
the effective date of this Act. A public sale notice of which is
posted before the effective date of this Act is governed by the law
in effect at the time the notice of sale was posted, and the former
law is continued in effect for that purpose.