- (a) A trustee or substitute trustee may set reasonable conditions for conducting the public sale if the conditions are announced before bidding is opened for the first sale of the day held by the trustee or substitute trustee.
- (b) A trustee or substitute trustee is not a debt collector.
- (c) A mortgagee may appoint or may authorize a mortgage servicer to appoint a perpetual substitute trustee by power of attorney or other written instrument. The power of attorney or written instrument must be signed by the mortgagee's representative, acknowledged, and sworn to with a jurat.
Added by Acts 2003, 78th Leg., ch. 554, Sec. 1, eff. Jan. 1, 2004.