Tex. Est. Code Section 1157.151
Option to Treat Claim as Matured Secured Claim or Preferred Debt and Lien

(a)

If a secured claim against a ward is presented, the claimant shall specify in the claim, in addition to all other matters required to be specified in the claim, whether the claim shall be:

(1)

allowed and approved as a matured secured claim to be paid in due course of administration, in which case the claim shall be paid in that manner if allowed and approved; or

(2)

allowed, approved, and fixed as a preferred debt and lien against the specific property securing the indebtedness and paid according to the terms of the contract that secured the lien, in which case the claim shall be so allowed and approved if it is a valid lien.

(b)

Notwithstanding Subsection (a)(2), the guardian of the estate may pay a claim that the claimant specified as a claim to be allowed, approved, and fixed as a preferred debt and lien as described by Subsection (a)(2) before maturity if that payment is in the best interests of the estate.

(c)

If a secured claim is not presented within the time provided by law, the claim shall be treated as a claim to be paid in accordance with Subsection (a)(2).
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.

Source: Section 1157.151 — Option to Treat Claim as Matured Secured Claim or Preferred Debt and Lien, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­1157.­htm#1157.­151 (accessed May 11, 2024).

1157.001
Presentment of Claim to Guardian of the Estate 1157.002
Presentment of Claim to Clerk 1157.003
Inclusion of Attorney’s Fees in Claim 1157.004
Affidavit Authenticating Claim for Money in General 1157.005
Affidavit Authenticating Claim of Corporation or by Certain Other Representatives 1157.006
Lost or Destroyed Evidence Concerning Claim 1157.007
Waiver of Certain Defects of Form or Claims of Insufficiency 1157.008
Effect on Statutes of Limitation of Filing of or Suit on Claim 1157.051
Allowance or Rejection of Claim 1157.052
Failure to Endorse or Attach Memorandum or Allow or Reject Claim 1157.053
Claim Entered on Claim Docket 1157.054
Contest of Claim 1157.055
Court’s Action on Claim 1157.056
Hearing on Certain Claims 1157.057
Court Order Regarding Action on Claim 1157.058
Appeal of Court’s Action on Claim 1157.059
Allowance and Approval Prohibited Without Affidavit 1157.060
Unsecured Claims Barred Under Certain Circumstances 1157.061
Allowing Barred Claim Prohibited 1157.062
Certain Actions on Claims with Lost or Destroyed Evidence Void 1157.063
Suit on Rejected Claim 1157.064
Presentment of Claim Prerequisite for Judgment 1157.065
Judgment in Suit on Rejected Claim 1157.101
Payment of Approved or Established Claim 1157.102
Payment of Unauthenticated Claim 1157.103
Priority of Payment of Claims 1157.104
Payment of Proceeds from Sale of Property Securing Debt 1157.105
Claimant’s Petition for Allowance and Payment of Claim 1157.106
Payment When Assets Insufficient to Pay Certain Claims 1157.107
Payment of Court Costs Relating to Claim 1157.108
Liability for Nonpayment of Claim 1157.151
Option to Treat Claim as Matured Secured Claim or Preferred Debt and Lien 1157.152
Preferred Debt and Lien 1157.153
Payment of Maturities on Preferred Debt and Lien 1157.201
Claim by Guardian 1157.202
Purchase of Claim by Guardian Prohibited
Green check means up to date. Up to date

Accessed:
May 11, 2024

§ 1157.151’s source at texas​.gov