Journal of the Senate of Texas being the Second Called Session of the Forty-Third Legislature Page: 37
This legislative document is part of the collection entitled: Texas Senate Journals and was provided to The Portal to Texas History by the UNT Libraries Government Documents Department.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
SENATE JOURNAL. 37
ness or trustee or person making
such sale; and providing that the
time during which any sale is sus-
pended or extended shall not be
computed as a part of the period
within which any suit shall be in-
stituted or any sale shall be made;
and declaring an emergency.
Be it enacted by the Legislature of
the State of Texas:
Section 1. That all sales under
any execution or order of sale is-
sued out of any court of this
State and all sales under any
deed of trust, mortgage or other
contract giving or granting any
power of sale of real property for
debt now advertised to be made on
February 6, 1934, are hereby stayed
and postponed until the first Tues-
day of March, 1934; that no other
or further advertisement or notice
of any such sale that has been law-
fully published or given for sale on
February 6, 1934, shall be required
for sale under such execution, order
of sale or such deed of trust, mort-
gage or other contract on the first
Tuesday in March, 1934. Any and
all sales under execution, order of
sale or under any deed of trust,
mortgage or other contract giving or
granting any power of sale of real
property for debt, made prior to the
first Tuesday in March, 1934, and
subsequent to the effective date of
this Act shall be and the same is
hereby declared void. Provided that
this Act shall not apply where the
lien sought to be foreclosed was pro-
cured or obtained for the purpose
of securing in part or whole any
indebtedness for money or prop-
erty procured by misrepresentation,
fraud, defalcation or embezzlement.
Provided further that if the record
owner of such real estate and the
holder of such indebtedness agree in
writing that such sale shall be made
on February 6, 1934, such sale shall
be valid and binding. In all such
cases the agreement shall be signed
by the trustee or other person mak-
ing such sale and by the record
owner of such real estate and shall
be acknowledged and filed for rec-
ord with the trustee's or other per-
son's deed.
Sec. 2. That the period within
which return is required to be made
under any such exection or order of
sale shall be, and the same is hereby
extended for such period as may benecessary to enable the officer mak-
ing such sale to make due return
thereof, but such extension shall not
extend beyond the first Tuesday in
April, 1934.
Sec. 3. The time during which
sales under execution, order of sale,
deeds of trust, mortgage or contract
shall be suspended or extended by
the provisions of this Act shall not
be accounted or computed as a part
of the period within which suits
shall be instituted or sales shall be
made.
Sec. 4. The fact that widespread
financial depression has made it im-
possible for many owners of encum-
bered real property to refinance
loans secured by such property and
has subjected vast amounts of val-
uable property to sale under fore-
closure; the further fact that there
is now no market demand for real
estate which will cause sales on Feb-
ruary 6, 1934, to be made at grossly
inadequate prices and amount to a
confiscation of property without ex-
tinguishing secured indebtedness,
thereby working a harsh and cruel
injustice upon many people who are
unable to defend themselves; and
the further fact that widespread
sales of real estate for less than the
intrinsic value will seriously retard
the restoration of normal conditions
creates an emergency and an im-
perative public necessity demanding
that the constitutional rule requir-
ing bills to be read on three several
days in each House be suspended,
and the same is hereby suspended,
and this Act shall take effect and be
in force from and after its passage,
and it is so enacted.
The report was adopted by the fol-
lowing vote:
Yeas-23
Blackert. Patton.
Collie. Poage.
Cousins. Purl.
DeBerry. Redditt.
Duggan. Regan.
Hopkins. Russek.
Hornsby. Sanderford.
Martin. Small.
Moore. Stone.
Neal. Woodul.
Oneal. Woodward.
Parr.
Nays-3.
Holbrook. Pace.
Murphy.37
SENATE JOURNAL.
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. Senate. Journal of the Senate of Texas being the Second Called Session of the Forty-Third Legislature, legislative document, 1934; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth307712/m1/43/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.