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A BILL TO BE ENTITLED
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AN ACT
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relating to the filing of an action in connection with foreclosure |
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of a lien on residential real property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 51, Property Code, is amended by adding |
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Section 51.010 to read as follows: |
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Sec. 51.010. TIME FOR FILING CERTAIN ACTIONS AGAINST |
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LIENHOLDER. (a) Subject to this section, an owner of residential |
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real property that is subject to a contract lien may file an action |
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against the lienholder for a claim that arises out of the |
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transaction under which the lien attached, regardless of whether |
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the action would otherwise be barred by limitation, if the |
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lienholder: |
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(1) serves the property owner with a notice of sale |
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under Section 51.002; or |
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(2) conducts a foreclosure sale of the property under |
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Section 51.002. |
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(b) An action filed under this section must be filed not |
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later than the 30th day after the later of: |
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(1) the date of the proposed foreclosure sale, as it |
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appears in the notice of sale, regardless of whether the sale |
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occurs; or |
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(2) the date the foreclosure sale occurs. |
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SECTION 2. The change in law made by this Act applies only |
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to a notice of sale given on or after the effective date of this Act |
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or to a foreclosure sale under Section 51.002, Property Code, for |
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which the notice of sale was given on or after the effective date of |
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this Act. A notice of sale given before the effective date of this |
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Act or a foreclosure sale for which the notice of sale was given |
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before the effective date of this Act is governed by the law in |
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effect immediately before the effective date of this Act, and that |
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law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |