Tex. Est. Code Section 356.353
Exchange for Bonds

(a)

If a court orders the reconveyance of foreclosed real estate as provided by Section 356.352 (Application and Order for Reconveyance), vendor’s lien notes shall be reserved for the total amount of the indebtedness due or for the total amount of bonds that the corporation or agency to which the application to redeem the real estate was submitted as described by Section 356.352 (Application and Order for Reconveyance)(1) is allowed to advance under the corporation’s or agency’s rules or regulations.

(b)

On obtaining the order for reconveyance, it shall be proper for the personal representative of the estate to indorse and assign the reserved vendor’s lien notes over to any one of the corporations or agencies described by Section 356.352 (Application and Order for Reconveyance)(1) in exchange for bonds of that corporation or agency.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.

Source: Section 356.353 — Exchange for Bonds, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­356.­htm#356.­353 (accessed May 18, 2024).

356.001
Court Order Authorizing Sale 356.002
Sale Authorized by Will 356.051
Sale of Certain Personal Property Required 356.101
Order for Sale 356.102
Requirements for Application and Order 356.103
Sale at Public Auction 356.104
Sale on Credit 356.105
Report 356.151
Authority for Sale 356.152
Contents of Application 356.153
Grant of Application 356.154
Report 356.155
Commission Merchant Fees 356.201
Application for Sale of Mortgaged Property 356.202
Citation 356.203
Order 356.251
Application for Order of Sale 356.252
Contents of Application 356.253
Citation 356.254
Opposition to Sale 356.255
Hearing on Application and Any Opposition 356.256
Order 356.257
Sale for Payment of Debts 356.301
Permissible Terms 356.302
Sale on Credit 356.351
Applicability of Subchapter 356.352
Application and Order for Reconveyance 356.353
Exchange for Bonds 356.401
Method of Sale 356.402
Completion of Auction 356.403
Time and Place of Auction 356.404
Continuance of Auction 356.405
Failure of Bidder to Comply 356.451
Terms of Sale 356.501
Authorization 356.502
Procedure 356.551
Report 356.552
Action of Court on Report 356.553
Approval of Sale When Bond Not Required 356.554
Sufficiency of Bond 356.555
Increased or Additional Bond Not Required 356.556
Approval or Disapproval Order 356.557
Deed 356.558
Delivery of Deed 356.559
Damages 356.601
Failure to Apply for Sale 356.602
Court Order 356.651
General Prohibition on Purchase 356.652
Exception: Authorization in Will 356.653
Exception: Executory Contract 356.654
Exception: Best Interest of Estate 356.655
Purchase in Violation of Subchapter
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Accessed:
May 18, 2024

§ 356.353’s source at texas​.gov