Texas Commercial Law Firm
Foreclosure
2. Notice of sale. Although a mere reference in the Notice of Sale to the recording date of the deed of trust has been held to be an adequate description of the property to be foreclosed, it is prudent practice to include a description of the property, as well as a description of the deed of trust in the notice. From the Notice of Sale, a potential purchaser must be able to reasonably identify the property subject to sale.
The foreclosure notice must also specify the time and place of the sale. In Texas, foreclosure sales may be held only on the first Tuesday of the month following 21 days notice. They may only be conducted between the hours of 10:00 a.m. and 4:00 p.m., and they must be conducted at a place designated by the commissioners' court of the county where the property is located. If the commissioners' court has designated a location, the sale must be held at this location regardless of whether the deed of trust specified a different location such as “the courthouse door”. If the commissioners' court has not designated a location, then the sale must be held in the area specified in the deed of trust. Most counties follow the traditional practice of conducting sales at the courthouse door--many are outside the door on the courthouse steps while others are inside the door or at some other designated location inside the courthouse. Finally, the sale must be conducted within three hours of the time specified in the Notice of Sale for the sale to begin.
Next Page>>> | Previous Page>>>
Designated by the Martindale Hubbell Bar Register as one of the Pre-Eminent Law practices in the United States