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Terms Used In Texas Property Code 113.010

  • Contract: A legal written agreement that becomes binding when signed.
  • Personal property: All property that is not real property.
  • Trustee: A person or institution holding and administering property in trust.

A trustee may contract to sell, sell and convey, or grant an option to sell real or personal property at public auction or private sale for cash or for credit or for part cash and part credit, with or without security.