Texas Estates Code 356.351 – Applicability of Subchapter
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Terms Used In Texas Estates Code 356.351
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- lien: include :
(1) a deed of trust;
(2) a vendor's lien, a mechanic's, materialman's, or laborer's lien, an attachment or garnishment lien, and a federal or state tax lien;
(3) a chattel mortgage;
(4) a judgment; and
(5) a pledge by hypothecation. See Texas Estates Code 22.024 - Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
This subchapter applies only to real estate owned by an estate as a result of the foreclosure of a vendor’s lien or mortgage belonging to the estate:
(1) by a judicial sale;
(2) by a foreclosure suit;
(3) through a sale under a deed of trust; or
(4) by acceptance of a deed in cancellation of a lien or mortgage owned by the estate.