Tex. Est. Code Section 1157.153
Payment of Maturities on Preferred Debt and Lien

(a)

If, not later than the 12th month after the date letters of guardianship are granted, the property securing a debt for which a claim is allowed, approved, and fixed under Section 1157.151 (Option to Treat Claim as Matured Secured Claim or Preferred Debt and Lien)(a)(2) is not sold or distributed, the guardian of the estate shall:

(1)

promptly pay all maturities that have accrued on the debt according to the terms of the maturities; and

(2)

perform all the terms of any contract securing the maturities.

(b)

If the guardian defaults in payment or performance under Subsection (a):

(1)

on the motion of the claim holder, the court shall require the sale of the property subject to the unmatured part of the debt and apply the proceeds of the sale to the liquidation of the maturities; or

(2)

at the claim holder’s option, a motion may be made in the same manner as a motion under Subdivision (1) to require the sale of the property free of the lien and apply the proceeds to the payment of the whole debt.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.

Source: Section 1157.153 — Payment of Maturities on Preferred Debt and Lien, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­1157.­htm#1157.­153 (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

§ 1157.153’s source at texas​.gov