TX SB372

Amends Sections 51.0001(7) and (8) of the Texas Property Code to expand the definition of who may serve as a "trustee" or "substitute trustee" for exercising power of sale on real property liens

Replaces the term "person" with a comprehensive list of eligible entities including individuals, corporations, organizations, government agencies, business trusts, estates, trusts, partnerships, associations, and other legal entities

Substitute trustees are appointed by the current mortgagee or mortgage servicer under the security instrument terms to exercise power of sale

Passed the Senate unanimously (30-0) on March 24, 2025, and the House (138-6) on May 6, 2025

Takes effect immediately with two-thirds legislative approval; otherwise takes effect September 1, 2025