Texas Estates Code

§ 403.054 — PREFERRED DEBT AND LIEN CLAIMS

ES § 403.054Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part I. INDEPENDENT ADMINISTRATION · Ch. 403. EXEMPTIONS AND ALLOWANCES; CLAIMS · Art. B. CLAIMS

Statute text

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During an independent administration, a secured creditor whose claim is a preferred debt and lien against property securing the indebtedness under Section 403.052 is free to exercise any judicial or extrajudicial collection rights, including the right to foreclosure and execution; provided, however, that the creditor does not have the right to conduct a nonjudicial foreclosure sale within six months after letters are granted.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 1338 (S.B. 1198), Sec. 2.53, eff. January 1, 2014.