Texas § ES.355.1551 - CLAIM HOLDER DUTY TO POSSESS OR SELL WITHIN REASONABLE TIME
Full text of Texas The Texas Constitution § ES.355.1551 — CLAIM HOLDER DUTY TO POSSESS OR SELL WITHIN REASONABLE TIME, with citation guidance and answers to common questions.
§ ES.355.1551. CLAIM HOLDER DUTY TO POSSESS OR SELL WITHIN REASONABLE TIME
CLAIM HOLDER DUTY TO POSSESS OR SELL WITHIN REASONABLE TIME. (a) A holder of a claim allowed and approved under Section 355.151 (a)(2) who elects to take possession or sell the property securing the debt before final maturity in satisfaction of the holder's claim must do so within a reasonable time, as determined by the court. (b) If the claim holder fails to take possession or sell secured property within the time determined by the court under Subsection (a), on application by the personal representative, the court may require the sale of the property free of the lien and apply the proceeds to the payment of the whole debt in full satisfaction of the claim. (c) This section does not apply to an estate administered as an independent administration under Subtitle I. Added by Acts 2015, 84th Leg., R.S., Ch. 949 (S.B. 995 ), Sec. 39, eff. September 1, 2015. Amended by: Acts 2019, 86th Leg., R.S., Ch. 1141 (H.B. 2782 ), Sec. 28, eff. September 1, 2019.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ES.355.1551
What does The Texas Constitution § ES.355.1551 cover?
Section ES.355.1551 ("CLAIM HOLDER DUTY TO POSSESS OR SELL WITHIN REASONABLE TIME") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ES.355.1551?
A common citation format is "The Texas Constitution § ES.355.1551" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ES.355.1551 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.