Tex. Est. Code § 1157.153 · Subchapter D. PRESENTMENT AND PAYMENT OF SECURED CLAIMS
PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If, not later than the 12th month after the date letters of guardianship are granted, the property securing a debt for which a claim is allowed, approved, and fixed under Section 1157.151(a)(2) is not sold or distributed, the guardian of the estate shall:
(1) promptly pay all maturities that have accrued on the debt according to the terms of the maturities; and
(2) perform all the terms of any contract securing the maturities.
(b) If the guardian defaults in payment or performance under Subsection (a):
(1) on the motion of the claim holder, the court shall require the sale of the property subject to the unmatured part of the debt and apply the proceeds of the sale to the liquidation of the maturities; or
(2) at the claim holder's option, a motion may be made in the same manner as a motion under Subdivision (1) to require the sale of the property free of the lien and apply the proceeds to the payment of the whole debt.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ES/htm/ES.1157.htm
- Text hash
- sha256 5cf6ce3a8365f05d4fb75410f15a3367b3cd676365c33fd6acd3bface6244f11
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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