Texas High Court OKs Broad Waiver For Foreclosure Offset

Law360, New York (June 13, 2014, 4:02 PM EDT) -- The Texas Supreme Court on Friday affirmed an appellate ruling that real estate loan guarantor Merhdad Moayedi must pay the balance on a promissory note because he waived his right to offset the balance by agreeing to a general defense waiver.

Moayedi had petitioned in early January for the Texas Supreme Court to review a 2012 Dallas Court of Appeals decision that determined Moayedi had waived Section 51.003 of the Texas Property Code when he agreed to a general defense waiver. That section, if not waived, would have given him the right to ask the court to offset the deficiency owed...

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