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Relating to the survival of a mechanic's retainage lien after the foreclosure of a lien securing a construction loan.
No significant fiscal implication to the State is anticipated.
HB 1679 would allow a person who holds a retainage lien on a property sold due to foreclosure to extend the life of the lien until it can be satisfied by a new owner, provided the person files an affidavit at least five days before the foreclosure sale.
Texas Action is neutral on HB 1679.
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