How Can an Interested Party Determine if Surplus Funds Remain After a Foreclosure Sale in Texas?
Detailed Answer When a non-judicial foreclosure sale occurs in Texas, the property is sold at public auction. If the sale price exceeds the total debt, costs and junior liens, the excess is called surplus funds. Under Tex. Prop. Code § 51.003(c), the trustee must apply sale proceeds first to sale expenses, then to the secured […]
Read article →What Steps Are Required to File a Petition Claiming Surplus Funds from a Foreclosure Proceeding in Texas?
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Detailed Answer Under Texas law, a foreclosure sale may generate surplus funds when the sale price exceeds the total debt and costs. The trustee must deposit that surplus with the county clerk, who holds it for two years. To claim these […]
Read article →Do I Get Ownership Interest in Real Property by Paying the Mortgage in Texas?
Understanding Mortgage Payments and Ownership Interest in Texas Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer In Texas, paying the mortgage on a property does not automatically grant you an ownership interest. Ownership of real estate depends on who holds legal title, not who makes loan payments. […]
Read article →What steps are needed to access and review unclaimed property information in Texas?
Detailed Answer Accessing and reviewing unclaimed property information in Texas involves using the Texas Comptroller’s official database. Unclaimed property includes dormant bank accounts, uncashed checks, insurance proceeds, safe deposit contents, and more. Follow these steps to find and review any property that may belong to you. 1. Visit the Texas Unclaimed Property Website Go to […]
Read article →How to Determine If Other Creditors or Lienholders Could Have Claims to the Surplus Funds in Texas?
Disclaimer: This article is for educational purposes only and is not legal advice. Consult a licensed attorney in Texas for guidance on your specific situation. Detailed Answer Understanding Texas Foreclosure Surplus Funds When a property in Texas sells at a foreclosure auction for more than the total debts secured by liens, the extra money is […]
Read article →What Options Exist for Establishing Authority Over an Elderly Heir’s Personal and Financial Decisions in TX?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer 1. Financial Power of Attorney A financial power of attorney (POA) lets the principal appoint an agent to manage bank accounts, investments, bill payments and other financial matters. Under the Texas Estates Code Chapter 751, you can draft a […]
Read article →How to Verify and Probate an Old Will Discovered Decades Later in Texas
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a licensed attorney to discuss your specific situation. Detailed Answer When you uncover an original will decades after it was signed, Texas law provides a clear path to authenticate and probate it. The probate court must confirm the document’s validity, […]
Read article →Where Would Insurance or Government Program Payments Appear on the Statement of Account in Texas?
Disclaimer: This article provides general information and does not constitute legal advice. Consult a Texas attorney for guidance tailored to your situation. Detailed Answer In Texas, a statement of account from your health care provider or billing office breaks down all financial activity related to your care. Insurance or government program payments appear as credit […]
Read article →How to verify if the decedent had a valid will or other estate planning documents in Texas
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer When a loved one passes, you may need to confirm whether they left a will or other estate planning documents. Under Texas law, a valid will must meet execution requirements and, if deposited with a county clerk or the […]
Read article →What Authorization Forms Must an Heir Sign to Direct Distribution of Real Property Sale Proceeds in Texas
Detailed Answer 1. Overview of Texas Probate and Real Property Sales In Texas, most real property held by a deceased person passes through probate before sale. Probate may be independent (no court supervision if the will authorizes) or dependent (court-supervised). Under an independent administration, the personal representative has broad powers to sell real estate without […]
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