Tex. Est. Code § 355.155 · Subchapter D. PRESENTMENT AND PAYMENT OF SECURED CLAIMS FOR MONEY
PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If property securing a debt for which a claim is allowed, approved, and fixed under Section 355.151(a)(2) is not sold or distributed within six months from the date letters testamentary or of administration are granted, the personal representative of the estate shall:
(1) promptly pay all maturities that have accrued on the debt according to the terms of the debt; and
(2) perform all the terms of any contract securing the debt.
(b) If the personal representative defaults in payment or performance under Subsection (a), on application of the claim holder, the court shall:
(1) 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;
(2) require the sale of the property free of the lien and apply the proceeds to the payment of the whole debt; or
(3) authorize foreclosure by the claim holder as provided by this subchapter.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, 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.355.htm
- Text hash
- sha256 c7a3a05402fcd53e626c1deb4cfc14c28394ee140a84db9068711eb19c07f4d0
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 4 provisions
Provisions in this library whose text cites Tex. Est. Code § 355.155. Each shows the citation as that text prints it.
Estates Code
- Tex. Est. Code § 114.104TRANSFER ON DEATH DEED PROPERTY SUBJECT TO LIENS AND ENCUMBRANCES AT TRANSFEROR'S DEATH; CREDITORS' CLAIMS.Printed as Sections 355.154 and 355.155
- Tex. Est. Code § 355.156AFFIDAVIT REQUIRED FOR FORECLOSURE.Printed as Section 355.155(b)(3)
- Tex. Est. Code § 355.158HEARING ON APPLICATION.Printed as Section 355.155(a)
- Tex. Est. Code § 355.160UNSUCCESSFUL FORECLOSURE; SUBSEQUENT APPLICATION.Printed as Section 355.155(b)(3)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.