|
<br />;i
<br />
<br />~ 34.04
<br />
<br />PROPERTY TAX CODE
<br />
<br />(F) the amount of the claim to excess proceeds in the registry of the court;
<br />(G) that the assignor or transferor has made no other assignments or transfers of the
<br />assignor's or transferor's claim to the excess proceeds;
<br />(H) that the assignor or transferor knows that the assignor or transferor may retain
<br />counsel; and
<br />(I) that the consideration was paid in full on the date of the assignment or transfer and
<br />that the consideration paid was an amount equal to at least 80 percent of the amount of
<br />the assignor's or transferor's claim to the excess proceeds.
<br />(g) An assignee or transferee who obtains excess proceeds without complying with Subsec-
<br />tion (f) is liable to the assignor or transferor for the amount of excess proceeds obtained plus
<br />attorney's fees and expenses. An assignee or transferee who attempts to obtain excess
<br />proceeds without complying with Subsection (f) is liable to the assignor or transferor for
<br />attorney's fees and expenses.
<br />(h) An assignee or transferee who files a petition setting forth a claim to excess proceeds
<br />must attach a copy of the assignment or transfer document and produce the original of the
<br />assignment or transfer document in court at the hearing on the petition. If the original
<br />assignment or transfer document is lost, the assignee or transferee must obtain the presence
<br />of the assignor or transferor to testify at the hearing. In addition, the assignee or transferee
<br />must produce at the hearing the original of any evidence verifying the payment of the
<br />consideration given for the assignment or transfer. If the original of any evidence of the
<br />payment is lost or if the payment was in cash, the assignee or transferee must obtain the
<br />presence of the assignor or transferor to testify at the hearing.
<br />(i) A fee charged by an attorney to obtain excess proceeds for an owner may not be greater
<br />than 25 percent of the amount obtained or $1,000, whichever is less. A person who is not an
<br />attorney may not charge a fee to obtain excess proceeds for an owner.
<br />(j) The amount of the excess proceeds the court may order be paid to an assignee or
<br />transferee may not exceed 125 percent of the amount the assignee or transferee paid the
<br />assignor or transferor on the date of the assignment or transfer.
<br />Acts 1979, 66th Leg., p. 2298, ch. 841, ~ 1, eff. Jan. 1, 1982. Amended by Acts 1983, 68th Leg., p. 4829,
<br />ch. 851, ~ 26, eff. Aug. 29, 1983; Acts 1999, 76th Leg., ch. 1185, ~ 2, eff. Sept. 1, 1999; Acts 1999, 76th
<br />Leg., ch. 1481, ~ 26, eff. Sept. 1, 1999; Acts 2001, 77th Leg., ch. 1420, ~ 18.007, eff. Sept. 1, 2001; Acts
<br />2001, 77th Leg., ch. 1430, ~ 27, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 319, ~ 10, eff. June 18, 2003;
<br />Acts 2009, 81st Leg., ch. 254, ~ 2, eff. Sept. 1, 2009.
<br />
<br />~ 34.05. Resale by Taxing Unit
<br />(a) If property is sold to a taxing unit that is a party to the judgment, the taxing unit may
<br />sell the property at any time by public or private sale. In selling the property, the taxing
<br />unit may, but is not required to, use the procedures provided by Section 263.001, Local
<br />Government Code, or Section 272.001, Local Government Code. The sale is subject to any
<br />right of redemption of the former owner. The redemption period begins on the date the deed
<br />to the taxing unit is filed for record.
<br />(b) Property sold pursuant to Subsections (c) and (d) of this section may be sold for any
<br />amount. This subsection does not authorize a sale of property in violation of Section 52,
<br />Article III, Texas Constitution.
<br />(c) The taxing unit purchasing the property by resolution of its governing body may
<br />request the sheriff or a constable to sell the property at a public sale. If the purchasing
<br />taxing unit has not sold the property within six months after the date on which the owner's
<br />right of redemption terminates, any taxing unit that is entitled to receive proceeds of the sale
<br />by resolution of its governing body may request the sheriff or a constable in writing to sell
<br />the property at a public sale. On receipt of a request made under this subsection, the sheriff
<br />or constable shall sell the property as provided by Subsection (d), unless the property is sold
<br />under Subsection (h) or (i) before the date set for the public sale.
<br />(d) Except as provided by this subsection, all public sales requested as provided by
<br />Subsection (c) shall be conducted in the manner prescribed by the Texas Rules of Civil
<br />Procedure for the sale of property under execution. The notice of the sale must contain a
<br />description of the property to be sold, the number and style of the suit under which the
<br />property was sold at the tax foreclosure sale, and the date of the tax foreclosure sale. The
<br />294
<br />
|