Collecting on a Writ of Execution
My question involves judgment recovery in the State of: Texas
I won a judgement for a car accident. I have filed a WOE, and the sheriff has seized 3 separate properties. My ? concerns something he informed me of. He said I have the right to accept one of the properties in lieu of the money. He called this a buyers credit. How does this work? By law he cannot advise me on what action I should take only inform me of my options. I have researched the properties and am interested in one of them. Does this credit mean I can take the property for that set amount or is it a credit towards the price set at the auction?
Re: Collecting on a Writ of Execution
See Chapter 52 of the Texas Property Code.
What I expect the sheriff was explaining to you is that you can impose your entire lien on one parcel, rather than dividing it across all three, such that you save fees and can perhaps convince the seller to trade the property for the balance due. If the sheriff won't better explain what he is thinking, I suggest consulting a local real estate lawyer.