Make Changes To Chapter 51, Texas Property Code
This petition had 14 supporters
Why does Chapter 51 need to be revised? Chapter 51 needs to be changed in order to not deprive citizens of rights and also allow other constitutional laws to not be violated
As far back as 1840 Constructive notice regarding tangible real property was required in public records to negate a claim that statutes of fraud was viable, however 51.0001(4)(c) as currently enrolled allows a “private registry” defined as a “national book entry system” to violate statutory law of which, deprives Texas citizens of right(s).
Why is it so difficult to obtain justice through the court system against a private registry that Mutilated Every Recordation Statute in Texas? Here is why. Texas courts purportedly follow the enacted laws of the Texas Legislature. So who keeps the Texas Legislature, and its enactments in check with the rights guaranteed by the Bill of Rights, in the Texas Constitution?
As the future has revealed the past, the "subject" was not really about whom could initiate foreclosure, the subject of chapter 51 is a private registry used for private transactions between an account debtor and a creditor, conducting transactions electronically, with an intangible obligee claiming to be a tangible lender. Touted as an alleged "holder of a security instrument", and not an alleged holder of a debt, as the statute once provided prior to the amendment in 2004, yet still "holder of the debt" is evident in certain parts of chapter 51 purportedly enacted prior to 2004 and cited as such; "Added by Acts 1995, 74th Leg., ch. 1020, Sec. 1, eff. Aug. 28, 1995"
In Texas there was no need to replace the current Texas recordation statutes with a private registry defined as a "national book entry system", in 2004.
On September 1, 2004 elected officials allowed a method and a means to be placed into chapter 51 of the Texas Property code, that would become superior to long established recordation statutes within the Texas Local Government Code and allow for the Constitution to be violated.
The current foreign entity being alluded to as a "book entry system" cannot prove it meets the definition within state or federal definitions of "national book entry system". To do so, state law would preempt federal law, which would usurp federal law, which would usurp securities law. Texas has no statutory definition of "national book entry system" in itself.
Chapter 51 provides for a definition of "book entry system" which allows a non-defined private registry to use the Texas Property code for the benefit of a non-defined private registry, or its members. The private registry cannot be defined as a "national book entry system", that definition is held for securities transactions regulated by the Federal Reserve, Securities & Exchange Commission, or other federally related securities agency regulations.
Chapter 51 allows an open opportunity for the private registry to record instruments of an unknown chain of title to many deed of trust in Texas, and such purported "known chain of title", is only known by the private registry, and not through the recordation statutes. This avenue is offered for the private registry, and can be observed in 51.0001(4)(C).
Chapter 51 allows a private registry to bypass recordation fees which are an integral part of revenue for such county clerk’s duties in Texas. This certain chapter 51 also allows the private registry to bypass filing fees to the secretary of state.
Chapter 51 does not allow the requirements of chapter 192.007(a) of the Texas Local Government code to be fulfilled according to long established local statutory law. Furthermore the a federal court interlocutory opinion stated that 192.007(a) is mandatory to be in compliance with other statutes. Allowing such private registry to replace the Texas recordation statutes denies equality of law for the people of the state of Texas, in short the statute 51.0001(4(C) as written deprives the citizens of a fair trial.
Chapter 51 allows for unknown parties of a private registry to enforce a deed of trust without the need of the promissory note the deed of trust is required to be attached to achieve the secured creditor status of the indebtedness as once noticed constructively in public records at origination of its recordation in another parties name. This can be observed within section 51.0001, subsections (1) through (8).
Chapter 51 allows for the private registry to back date alleged "assignments" for any particular reason while placing the burden on the county clerks to reflect whether a true chain of title to real property actually exists; and only according to what is recorded by the private registry. These type actions place an undue hardship on Texas counties, when Texas has upheld its recordation statutes until 2004, when the private registry was considered to be superior, and the need to file, or record was at the leisure of the private registry, not existing Texas law.
Chapter 51 allows for a private registry to be called a “beneficiary”, “nominee”, “mortgagee” in a deed of trust, while Texas defines the private registry as a “book entry system” causing a confusion as to what the private registry is, a private registry. If this were as simple as a title, why was “beneficiary”, “nominee”, “mortgagee”, “holder of the security instrument”, not defined, or disclosed, that the private registry was such book entry system in the deed of trust? Silence hum's from the private registry?
In Texas, there was no need to replace the Texas recordation statutes prior to 2004 addendum, with a private registry defined as a "national book entry system".
We, the undersigned, demand our elected officials of Texas to change chapter 51, of the Texas Property Code to remove the private registry conducting electronic transactions between an account debtor and a creditor, unrelated to real property, from the real property code in Texas.
Sign the petition to change chapter 51, Texas Property Code
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