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What is a substitute trustee deed in Texas?

A Notice of Substitute Trustee Sale is whats commonly referred to as a Foreclosure Sale Notice. When do the Substitute Trustees Sales take place? The sale is held the first Tuesday of every month . The time(s) of the sales are indicated on each notice.

What is a substitution trustee?

If a Trustee becomes mentally incapacitated, has no beneficial interest in the Trust and there are other Trustees, they can appoint another Trustee to replace the incapacitated Trustee.

What is the difference between original trustee and successor trustee?

A trustee, who can either be the trustor or another responsible party, may be appointed while the trustor is still alive; a successor trustee is charged with administering a trust after the trustor or the appointed trustee (if they are different from the trustor) becomes incapacitated or dies.

What is a replacement trustee?

(6) Security instrument means a deed of trust, mortgage, or other contract lien on an interest in real property. (7) Substitute trustee means a person appointed by the current mortgagee or mortgage servicer under the terms of the security instrument to exercise the power of sale.

What is a substitution of trustee?

A Substitution of Trustee and Deed of Reconveyance is a legal document that evidence security interest is being release by a lender. In most cases, the document shows that a loan has been paid off. Property owners may even receive this document if they have refinanced a loan.