Texas Business and Commerce Code 22.004 – Information From Winning Bidder
(a) A winning bidder at a sale, other than the foreclosing mortgagee or mortgage servicer, shall provide the following information to the trustee or substitute trustee at the time the trustee or substitute trustee completes the sale:
(1) the name, address, telephone number, and e-mail address of the bidder and of each individual tendering or who will tender the sale price for the winning bid;
(2) if the bidder is acting on behalf of another individual or organization, the name, address, telephone number, and e-mail address of the individual or organization and the name of a contact person for the organization;
(3) the name and address of any person to be identified as the grantee in a trustee’s or substitute trustee’s deed;
(4) the purchaser’s tax identification number;
(5) a government-issued photo identification to confirm the identity of each individual tendering funds for the winning bid; and
(6) any other information reasonably needed to complete the trustee’s or substitute trustee’s duties and functions concerning the sale.
(b) If a winning bidder required to provide information under Subsection (a) fails or refuses to provide the information, the trustee or substitute trustee may decline to complete the transaction or deliver a deed.
Terms Used In Texas Business and Commerce Code 22.004
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Trustee: A person or institution holding and administering property in trust.