Texas § 825.3021 APPRAISAL AND SALE OF REAL PROPERTY.

Texas Statutes

§ 825.3021 — APPRAISAL AND SALE OF REAL PROPERTY.

Texas § 825.3021

Code GVGovernment Code

This text of Texas § 825.3021 (APPRAISAL AND SALE OF REAL PROPERTY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 825.3021 (2026).

Text

Sec. 825.3021. APPRAISAL AND SALE OF REAL PROPERTY. If the retirement system acquires, through foreclosure or conveyance of deed in lieu of foreclosure, real property assets or stock in an entity the major asset of which is real property, the retirement system shall, not later than the 90th day after the date of acquisition:

(1)have the real property appraised by an appraiser who is not a trustee or employee of the retirement system and who has received MAI or SRA;

(2)acquire a foreclosure endorsement to the mortgagee's title insurance policy; and

(3)if the real property contains improvements, employ an individual who is not, or a property management company that is not owned by, a trustee or employee of the retirement system and who is, or that employs, a CPM, CAM, or RAM to manage the

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Sec. 825.3021. APPRAISAL AND SALE OF REAL PROPERTY. If the retirement system acquires, through foreclosure or conveyance of deed in lieu of foreclosure, real property assets or stock in an entity the major asset of which is real property, the retirement system shall, not later than the 90th day after the date of acquisition:
(1) have the real property appraised by an appraiser who is not a trustee or employee of the retirement system and who has received MAI or SRA;
(2) acquire a foreclosure endorsement to the mortgagee's title insurance policy; and
(3) if the real property contains improvements, employ an individual who is not, or a property management company that is not owned by, a trustee or employee of the retirement system and who is, or that employs, a CPM, CAM, or RAM to manage the property.