GroundRules
Tex. Estates Code § 1158.405: FAILURE OF BIDDER TO COMPLY.
Where this section sits in the code
- ESTATES CODE
- TITLE 3. GUARDIANSHIP AND RELATED PROCEDURES
- SUBTITLE E. ADMINISTRATION OF GUARDIANSHIP
- CHAPTER 1158. SALE OR PARTITION OF WARD'S PROPERTY
- SUBCHAPTER I. SALE OF REAL ESTATE: PUBLIC AUCTION
(a) If a person who successfully bids on real estate of the guardianship estate offered at public auction fails to comply with the terms of the bid, the property shall be readvertised and auctioned without any further order.
(b) The person defaulting on a bid as described by Subsection (a) is liable for payment to the guardian of the estate, for the estate's benefit, of:
(1) 10 percent of the amount of the bid; and
(2) the amount of any deficiency in price on the second auction.
(c) The guardian shall recover the amounts under Subsection (b) by suit in any court in the county in which the auction was held that has jurisdiction over the amount claimed.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 521 (S.B. 626), Sec. 41, eff. September 1, 2021.
Collected 2026-08-27T01:47:08Z. Source file · JSON