Texas Property Code 51.0076 – Effective Date of Appointment
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Terms Used In Texas Property Code 51.0076
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
The appointment or authorization of a trustee or substitute trustee made in a notice of sale is effective as of the date of the notice if the notice:
(1) complies with Sections 51.002 and 51.0075(e);
(2) is signed by an attorney or agent of the mortgagee or mortgage servicer; and
(3) contains a statement in all capital letters, boldface type, to read as follows:
THIS INSTRUMENT APPOINTS THE SUBSTITUTE TRUSTEE(S) IDENTIFIED TO SELL THE PROPERTY DESCRIBED IN THE SECURITY INSTRUMENT IDENTIFIED IN THIS NOTICE OF SALE THE PERSON SIGNING THIS NOTICE IS THE ATTORNEY OR AUTHORIZED AGENT OF THE MORTGAGEE OR MORTGAGE SERVICER.