22.005 – RECEIPT AND DEED. The trustee or substitute
Texas Business and Commerce Code § 22.005
Summary
This law requires trustees or substitute trustees to provide receipts for sale proceeds to winning bidders and to deliver or file the deed within a reasonable time. It primarily affects real estate transactions involving foreclosure sales in Texas.
Trustees must issue a receipt to the winning bidder.
Deeds must be delivered or filed within a reasonable time.
Applies to foreclosure sales and related transactions.
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In simple terms: Learn about Texas's RECEIPT AND DEED. The trustee or substitute law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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