Terms Used In Texas Business and Commerce Code 22.005

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Trustee: A person or institution holding and administering property in trust.

The trustee or substitute trustee shall:
(1) provide the winning bidder with a receipt for the sale proceeds tendered; and
(2) except when prohibited by law, within a reasonable time:
(A) deliver the deed to the winning bidder; or
(B) file the deed for recording.