Texas SB372 amends the Property Code to redefine "substitute trustee" and "trustee" in the context of contract liens on real property.
Texas SB372 amends the Property Code to redefine "substitute trustee" and "trustee" in the context of contract liens on real property. A "substitute trustee" is now defined as an individual, corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, or other legal entity appointed by the current mortgagee or mortgage servicer under the terms of the security instrument to exercise the power of sale.
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