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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.