[Caption. See § 3 of the Introduction in this manual.]
Order Authorizing Foreclosure of Real Property
On this date, the Court considered the Application for Foreclosure of Real Property filed by [name of mortgagee] (“Claimholder”). Upon consideration of the Application, pleadings, exhibits, legal arguments, and all other relevant evidence, the Court grants Claimholder’s Application. The Court finds that it is in the best interest of the estate for Claimholder to foreclose its mortgage, lien, or security interest to satisfy the preferred debt and lien held by Claimholder against the real property and improvements described below. The Court further finds that the bond of the personal representative (“Representative”) is sufficient.
The Court further finds that a public auction held in accordance with the security instrument and Texas Property Code section 51.002(a), (b)(1) and (2), and (c) would pass constitutional and statutory muster as to the method and means to fairly conduct a public sale.
IT IS ORDERED that Claimholder is authorized to sell at public sale at auction to the highest bidder the real property and improvements commonly known as [address] (“Property”), and more particularly described as follows: [legal description].
IT IS ORDERED that for purposes of certainty as to the manner and means in which the public sale is to be conducted, Claimholder shall sell the Property in accordance with the provisions of Texas Property Code section 51.002(a), (b)(1) and (2), and (c) and the terms of the Loan Agreement. A notice of demand to cure default, notice of intent to accelerate, and notice of acceleration of maturity of the Loan Agreement have been constructively given by this proceeding and therefore are not required to be given to the estate or Representative.
IT IS ORDERED that Claimholder shall give notice to the public of the sale in accordance with Texas Property Code section 51.002(b)(1) and (2) and that a copy of this order shall be attached to the notice.
IT IS ORDERED that all costs associated with the public auction of the Property shall be deemed costs of Court and shall be paid by Claimholder, but such costs shall be included as part of the payoff amount of the Loan Agreement.
IT IS ORDERED that Claimholder shall release the estate and Representative from any deficiency if the sale price received at public sale is less than the payoff amount of the Loan Agreement.
IT IS ORDERED that, upon completion of the public sale, Claimholder shall deposit any excess proceeds into the registry of the Court, file a Report of Sale in accordance with Texas Estates Code section 356.551, attach a copy of the Trustee’s Deed, and submit a Decree Confirming Sale authorizing conveyance of the Property for consideration by this Court.
SIGNED on ________________________________.
JUDGE PRESIDING