81R8055 AJA-D
 
  By: Thompson H.B. No. 1760
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the filing of an action in connection with foreclosure
  of a lien on residential real property.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 51, Property Code, is amended by adding
  Section 51.010 to read as follows:
         Sec. 51.010.  TIME FOR FILING CERTAIN ACTIONS AGAINST
  LIENHOLDER. (a) Subject to this section, an owner of residential
  real property that is subject to a contract lien may file an action
  against the lienholder for a claim that arises out of the
  transaction under which the lien attached, regardless of whether
  the action would otherwise be barred by limitation, if the
  lienholder:
               (1)  serves the property owner with a notice of sale
  under Section 51.002; or
               (2)  conducts a foreclosure sale of the property under
  Section 51.002.
         (b)  An action filed under this section must be filed not
  later than the 30th day after the later of:
               (1)  the date of the proposed foreclosure sale, as it
  appears in the notice of sale, regardless of whether the sale
  occurs; or
               (2)  the date the foreclosure sale occurs.
         SECTION 2.  The change in law made by this Act applies only
  to a notice of sale given on or after the effective date of this Act
  or to a foreclosure sale under Section 51.002, Property Code, for
  which the notice of sale was given on or after the effective date of
  this Act. A notice of sale given before the effective date of this
  Act or a foreclosure sale for which the notice of sale was given
  before the effective date of this Act is governed by the law in
  effect immediately before the effective date of this Act, and that
  law is continued in effect for that purpose.
         SECTION 3.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2009.