Tex. Civ. Practice & Remedies Code Section 16.038
Rescission or Waiver of Accelerated Maturity Date


(a)

If the maturity date of a series of notes or obligations or a note or obligation payable in installments is accelerated, and the accelerated maturity date is rescinded or waived in accordance with this section before the limitations period expires, the acceleration is deemed rescinded and waived and the note, obligation, or series of notes or obligations shall be governed by Section 16.035 (Lien on Real Property) as if no acceleration had occurred.

(b)

Rescission or waiver of acceleration is effective if made by a written notice of a rescission or waiver served as provided in Subsection (c) by the lienholder, the servicer of the debt, or an attorney representing the lienholder on each debtor who, according to the records of the lienholder or the servicer of the debt, is obligated to pay the debt.

(c)

Service of a notice under Subsection (b) must be by first class or certified mail and is complete when the notice is deposited in the United States mail, postage prepaid and addressed to the debtor at the debtor’s last known address. The affidavit of a person knowledgeable of the facts to the effect that service was completed is prima facie evidence of service.

(d)

A notice served under this section does not affect a lienholder’s right to accelerate the maturity date of the debt in the future nor does it waive past defaults.

(e)

This section does not create an exclusive method for waiver and rescission of acceleration or affect the accrual of a cause of action and the running of the related limitations period under Section 16.035 (Lien on Real Property)(e) on any subsequent maturity date, accelerated or otherwise, of the note or obligation or series of notes or obligations.
Added by Acts 2015, 84th Leg., R.S., Ch. 759 (H.B. 2067), Sec. 1, eff. June 17, 2015.

Source: Section 16.038 — Rescission or Waiver of Accelerated Maturity Date, https://statutes.­capitol.­texas.­gov/Docs/CP/htm/CP.­16.­htm#16.­038 (accessed Nov. 25, 2023).

16.001
Effect of Disability
16.002
One-year Limitations Period
16.003
Two-year Limitations Period
16.004
Four-year Limitations Period
16.005
Action for Closing Street or Road
16.006
Carriers of Property
16.007
Return of Execution
16.008
Architects, Engineers, Interior Designers, and Landscape Architects Furnishing Design, Planning, or Inspection of Construction of Improvements
16.009
Persons Furnishing Construction or Repair of Improvements
16.010
Misappropriation of Trade Secrets
16.011
Surveyors
16.012
Products Liability
16.013
Real Estate Appraisers and Appraisal Firms
16.021
Definitions
16.022
Effect of Disability
16.023
Tacking of Successive Interests
16.024
Adverse Possession: Three-year Limitations Period
16.025
Adverse Possession: Five-year Limitations Period
16.029
Evidence of Title to Land by Limitations
16.030
Title Through Adverse Possession
16.0031
Asbestos-related or Silica-related Injuries
16.031
Enclosed Land
16.032
Adjacent Land
16.033
Technical Defects in Instrument
16.034
Attorney’s Fees
16.035
Lien on Real Property
16.036
Extension of Real Property Lien
16.037
Effect of Extension of Real Property Lien on Third Parties
16.038
Rescission or Waiver of Accelerated Maturity Date
16.0045
Limitations Period for Claims Arising from Certain Offenses
16.051
Residual Limitations Period
16.061
Rights Not Barred
16.062
Effect of Death
16.063
Temporary Absence from State
16.064
Effect of Lack of Jurisdiction
16.065
Acknowledgment of Claim
16.066
Action on Foreign Judgment
16.067
Claim Incurred Prior to Arrival in This State
16.068
Amended and Supplemental Pleadings
16.069
Counterclaim or Cross Claim
16.070
Contractual Limitations Period
16.071
Notice Requirements
16.072
Saturday, Sunday, or Holiday
16.073
Applicability of Limitations Periods to Arbitration

Accessed:
Nov. 25, 2023

§ 16.038’s source at texas​.gov