Texas Estates Code 355.160 – Unsuccessful Foreclosure; Subsequent Application
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Terms Used In Texas Estates Code 355.160
- Court: means and includes:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise original probate jurisdiction; and
(3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007 - Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
If property that is the subject of a foreclosure sale authorized and conducted under this subchapter is not sold because no bid at the sale met the minimum price set by the court, the claim holder may file a subsequent application for foreclosure under § 355.155(b)(3). The court may eliminate or modify the minimum price requirement and grant permission for another foreclosure sale.