Texas Estates Code

§ 355.154 — PREFERRED DEBT AND LIEN

ES § 355.154Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part H. CONTINUATION OF ADMINISTRATION · Ch. 355. PRESENTMENT AND PAYMENT OF CLAIMS · Art. D. PRESENTMENT AND PAYMENT OF SECURED CLAIMS FOR MONEY

Statute text

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When a claim for a debt is allowed and approved under Section 355.151(a)(2):

(1)a further claim for the debt may not be made against other estate assets;

(2)the debt thereafter remains a preferred lien against the property securing the debt; and

(3)the property remains security for the debt in any distribution or sale of the property before final maturity and payment of the debt.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.