Tex. Estates Code § 356.405
This is the official text of Tex. Estates Code § 356.405, part of Texas’s Estates Code — governs wills, probate, and estate administration.
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§ 356.405. FAILURE OF BIDDER TO COMPLY.
Official statutory text
(a) If a person bids off real estate of the estate offered at public auction and 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 personal representative 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 personal representative may recover the amounts under Subsection (b) by suit in any court in the county in which the auction was made that has jurisdiction of the amount claimed.
(b) The person defaulting on a bid as described by Subsection (a) is liable for payment to the personal representative 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 personal representative may recover the amounts under Subsection (b) by suit in any court in the county in which the auction was made that has jurisdiction of the amount claimed.
Status: in_force · Read it on the official government site
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