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A deed of trust has a borrower, lender and a “trustee.” The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower. In most cases, the trustee is an escrow If you don't repay your loan, the escrow company's attorney must begin the foreclosure process.

In simple terms, anyone who has the capacity to hold property can be a trustee. It is possible to be both a beneficiary and a trustee, although this may not always be appropriate. A trust may have just professional trustees, just lay trustees or a combination of the two.

Notices are entitled “Notice of Trustee's Sale” or “Notice of Substitute Trustee's Sale.” They provide information about the debt, the legal description of the property, and designate a three-hour period during which the sale will be held.

Purchase paper copies of documents without the unofficial watermark in person at any Annex Location. by fax: (713) 437-4868. by email to: ccinfo@cco.hctx.net. by mail to: Teneshia Hudspeth, Harris County Clerk. Attn: Information Department. P.O. Box 1525. Houston, TX. 77251. For Questions Call (713) 274-6390.

The lender and the borrower together designate who will act as the trustee; both parties must agree with the decision before finalizing the deed of trust. Lenders may use a trustee with whom they are acquainted, so long they are not affiliated. The trustee must also agree to the designation.

A trustee sale is the sale of real estate property through a public auction. In most cases, trustee sales are only possible because homeowners are in some financial crisis, such as a homeowner defaulting on their mortgage payments and the property going into foreclosure.

The trustee named in a Texas deed of trust can be any individual person who has the legal capacity to hold and transfer property. Under Texas law, if the named trustee is a corporation, the corporation must be authorized to act as a trustee in Texas.

After the foreclosure sale, if the property sells for a higher price than what is owed, the excess funds would then be used to pay off any additional liens that may be on the property.

Notices are entitled “Notice of Trustee's Sale” or “Notice of Substitute Trustee's Sale.” They provide information about the debt, the legal description of the property, and designate a three-hour period during which the sale will be held.