Texas Estates Code
§ 1157.104 — PAYMENT OF PROCEEDS FROM SALE OF PROPERTY SECURING DEBT
ES § 1157.104Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1157. PRESENTMENT AND PAYMENT OF CLAIMS · Art. C. PAYMENT OF CLAIMS, ALLOWANCES, AND EXPENSES
Statute text
View on source(a)If a guardian of the estate has on hand the proceeds of a sale made to satisfy a mortgage or other lien and the proceeds or any part of the proceeds are not required for the payment of any debts against the estate that have a preference over the mortgage or other lien, the guardian shall pay the proceeds to a holder of the mortgage or other lien.
(b)If the guardian fails to pay the proceeds as required by this section, the holder of a mortgage or other lien, on proof of the mortgage or other lien, may obtain an order from the court directing the payment of proceeds to be made.
Legislative history
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.