Texas Natural Resources Code 161.513 – Foreclosure and Resale
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Terms Used In Texas Natural Resources Code 161.513
- 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.
The board shall adopt rules providing procedures governing foreclosure of a lien securing a loan.