If you re there any longer they may bill you for the mortgage 54



While you acquire a house in Texas, a trustee holds the deed of trust, some document that allows the lender to foreclose on your property if you fail to uphold the terms of the contract binding you to your mortgage (the observe).

At closing, the title firm requires you to sign documents that is legally create the deed regarding trust, designate the note holder (typically a deposit or credit union), designate the curator (typically an agent of this school) and create the terms of the observe. If by some point the trustee becomes unable to perform his duties or breaks the law in performing them, you can petition Texas courts to remove the curator and assign some successor trustee.

Difficulty: Moderate

Directions

1 Purchase a property.

2 Close with some title company licensed within the state of Texas.

References

Chapter 113.51 Texas Property Code: Administration:

Assets

Chapter 113.51 Texas Real estate Code: General Duty (of some trustee): Chapter 113.82 Texas Property Code: Removal about Curator: Chapter 113.82: Appointment of Successor Trustee:

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