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Ulta And Non-Judicial Mortgage Foreclosure In Texas., Patricia E. Rant

St. Mary's Law Journal

Much of the current law governing secured land transactions remains closely akin to common law practices of feudal England. Consequently, certain aspects of the law in this area are provincial, anachronistic, and ill-suited to the needs of the modern borrower and lender. Even a cursory examination of Texas mortgage foreclosure law demonstrates certain shortcomings of the existing system. The Uniform Land Transactions Act (ULTA) professes to simplify, modernize, and unify state laws relating to real estate transactions. ULTA expects to accomplish these various purposes through uniformity in foreclosure proceedings. ULTA suggests several distinct advantages not currently available under Texas law. …