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A BILL TO BE ENTITLED
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AN ACT
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relating to procedures required for the foreclosure of a property |
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owners' association's assessment lien. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 209, Property Code, is amended by adding |
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Section 209.0091 to read as follows: |
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Sec. 209.0091. JUDICIAL FORECLOSURE REQUIRED. (a) Except |
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as provided by Subsection (b), a property owners' association may |
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not foreclose a property owners' association's assessment lien |
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unless the association first obtains a court judgment foreclosing |
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the lien and providing for issuance of an order of sale. |
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(b) Judicial foreclosure is not required under this section |
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if the owner of the property that is subject to foreclosure agrees |
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in writing to waive judicial foreclosure under this section. |
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SECTION 2. Subsection (a), Section 209.010, Property Code, |
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is amended to read as follows: |
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(a) A property owners' association that conducts a |
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foreclosure sale of an owner's lot must send to the lot owner not |
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later than the 30th day after the date of the foreclosure sale: |
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(1) a written notice stating the date and time the sale |
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occurred and informing the lot owner of the owner's right to redeem |
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the property under Section 209.011; and |
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(2) a copy of Section 209.011. |
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SECTION 3. (a) Section 209.0091, Property Code, as added by |
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this Act, applies only to foreclosure of a lien that attaches on or |
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after the effective date of this Act. Foreclosure of a lien that |
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attaches before the effective date of this Act is governed by the |
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law in effect immediately before that date, and that law is |
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continued in effect for that purpose. |
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(b) Subsection (a), Section 209.010, Property Code, as |
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amended by this Act, applies only to a foreclosure sale conducted on |
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or after the effective date of this Act. A foreclosure sale |
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conducted before the effective date of this Act is governed by the |
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law in effect immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 4. This Act takes effect January 1, 2010. |