Escrow & Title
In Texas, a 'deed of trust' transaction involves three parties: the trustor, trustee, and beneficiary. At foreclosure, the trustee's role is to:
ARepresent the borrower's interests
BConduct the non-judicial foreclosure sale and convey the property to the successful bidder through a trustee's deed✓ Correct
CSet the minimum bid at the foreclosure auction
DPay the borrower any surplus proceeds
Explanation
In a Texas deed of trust foreclosure, the trustee (upon the lender's direction after default and required notice) conducts the public trustee's sale on the first Tuesday of the month. The trustee accepts bids, announces the successful bidder, and issues a trustee's deed conveying the property to the buyer. The trustee acts as a neutral party between the lender and borrower.
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