Bear, Stearns & Co., Inc. v. M.T. Amad

E. GRADY JOLLY, Circuit Judge:

Bear, Stearns & Co., Inc. (“Bear Stearns”) appeals the district court’s order requiring it to accept $100,000 in cash and certain real property in satisfaction of defendant’s judgment debt. Bear Stearns argues that the Texas Turnover Statute, Tex. Civ.Prac. & Rem.Code Ann. § 31.002(b)(2), does not authorize courts to order direct transfers of real property to judgment creditors. We agree and, therefore, reverse and remand for further proceedings.

I

Bear Stearns obtained a $323,386.91 money judgment against the defendant M.T. Amad and thereafter registered the…