(a) When the court grants a claim holder the right of foreclosure at a hearing under Section 355.158, the court shall authorize the claim holder to foreclose the claim holder's mortgage, lien, or security interest:
(1) in accordance with the provisions of the document creating the mortgage, lien, or security interest; or
(2) in any other manner allowed by law.
(b) Based on the evidence presented at the hearing, the court may set a minimum price for the property to be sold by foreclosure that does not exceed the fair market value of the property. If the court sets a minimum price, the property may not be sold at the foreclosure sale for a lower price.
Official text of the Texas Estates Code as published by the Texas Legislative Council.