The Laws of Texas, 1934-1935 [Volume 29] Page: 52 of 2,086
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42 GENERAL AND SPECIAL LAWS.
DISTRICT COURTS AUTHORIZED TO STAY SALE OF
REAL PROPERTY BY GRANTING RESTRAINING
S. B. No. 3.] CHAPTER 16.
An Act temporarily enlarging the powers of the District Courts of this
State to grant continuances and stays of execution in suits to foreclose
liens upon real property and to grant restraining orders and temporary
injunctions restraining sales of real estate under Deeds of Trust and
other contracts and sales under executions and orders of sale; specifying
the necessary allegations for motions for continuance, application for
stay orders, and petitions for injunction, and prescribing the contents of
orders granting such continuances, stay orders and injunctions; providing
for payment of rent on real property involved; prescribing the duration
of stay orders, continuances and injunctions and for the renewal thereof
and the dissolution thereof; prescribing that such motions and petitions
for such relief shall be addressed to the sound discretion of the trial
Court and that the refusal of such relief shall be reviewable on appeal;
providing for the appointment of receivers, for the entry of judgments
by agreement, suspending Statutes of limitation as to real property for
which relief under this Act is invoked; making the several provisions of
the Act separate and distinct; extending the Act to guarantors, sureties
and indorsers where payment of debt is postponed for party primarily
liable; repealing all laws in conflict, and declaring an emergency.
WHEREAS, the severe financial and economic depression
existing for several years past has resulted in extremely low
prices for the products of the farms, ranches and factories and
a great amount of unemployment, and almost complete lack of
credit for farmers, business men and property owners and a
general and extreme stagnation of business, agriculture and
WHEREAS, many owners of real property by reason of such
conditions are unable, and it is believed, will be for some time
unable to meet all demands as they may become due for taxes,
interest and principal of mortgages on their properties and
are, therefore, threatened with loss of such properties through
mortgage foreclosure and judicial sales thereof; and
WHEREAS, many such properties have been and are being
bid in at forced sales for prices much below what is believed to
be their real values, and often for much less than the amount
of indebtedness constituting a lien upon the same, thus entailing
deficiency judgments against the makers of such indebtedness
and liens; and
WHEREAS, it is believed, and the Legislature of the State
of Texas hereby declares its belief, that the conditions existing
as hereinbefore set forth have created an emergency of
such nature that justifies and validates legislation for the temporary
creation of a period of redemption of property by the
owners thereof after the same has been sold at forced sale and
for the postponement of forced sales of real estate and other
relief of like character; and
WHEREAS, the Sovereign State of Texas possesses the
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1934-1935 [Volume 29], book, 1935; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth17292/m1/52/: accessed June 23, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .