Changes to Practice
Notes—October 2019
Chapter 1Attorney-Client Relations in the Foreclosure Process
§ 1.1:2Duty to Report Ethical Violation; Peer Assistance Program Alternative
The
section was added.
§ 1.1:3Texas Lawyers’ Assistance Program
The
section was added.
§ 1.1:4Notice of Grievance Process
The
section was renumbered.
Chapter 10Borrower Challenges to Foreclosure and Lender Responses
§ 10.3:7 Economic Loss Doctrine
The cite to Shellnut v. Wells
Fargo Bank in the third paragraph was updated.
§ 10.26:2 New Developments in Notice of Acceleration Invoking Statute of Limitations
The cite to NSL Property Holdings v. Nationstar Mortgage in the Recent Cases on
Abandonment of Acceleration/Section 16.038 Rescission subsection was updated.
Chapter 15Postsale Considerations
§ 15.9:4 Federal Protections for Residential Tenants
The
first paragraph was updated to indicate the current status of the PTFA.
Chapter 22Commercial Foreclosure Process
§ 22.8 Conducting the Sale
The citation to Tex. Prop. Code § 51.002(a–1) was revised in
the second paragraph.
Chapter 29Manufactured Housing Unit Foreclosure Process
§ 29.16 Protecting Tenants at Foreclosure Act of 2009
The
section was updated to indicate the current status of the PTFA.
Chapter 30Property Owners Association Foreclosure Process
§ 30.3:12 Sale
The citations to Tex.
Civ. Prac. & Rem. Code. § 34.041
and Tex. Prop. Code § 51.002(a–1) were added in the second paragraph.
Changes to
Forms—October 2019
Chapter 4Preforeclosure Title Concerns
Form 4-1IRS Publication 786—Instructions for Preparing Notice of Nonjudiciary Sale of Property
The
form was updated.
Chapter 15Postsale Considerations
Form 15-1IRS Form 1099-A—Acquisition or Abandonment of Secured Property
The
form was updated.
Form 15-2IRS Form 1096—Annual Summary and Transmittal of U.S. Information Returns
The
form was updated.
Chapter 23Tax Consequences of the Foreclosure Process
Form 23-1IRS Form 1099-C—Cancellation of Debt
The
form was updated.
Form 23-2Instructions for Forms 1099-A and 1099-C
The
form was updated.
Form 23-3IRS Form 982—Reduction of Tax Attributes Due to Discharge of Indebtedness
The
form was updated.
Form 23-4IRS Instructions for Form 982
The
form was added.