Texas § ES.1157.153 - PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN
Full text of Texas The Texas Constitution § ES.1157.153 — PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN, with citation guidance and answers to common questions.
§ ES.1157.153. PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN
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 (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. SUBCHAPTER E. CLAIMS INVOLVING GUARDIANS
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ES.1157.153
What does The Texas Constitution § ES.1157.153 cover?
Section ES.1157.153 ("PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN") 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.1157.153?
A common citation format is "The Texas Constitution § ES.1157.153" (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.1157.153 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.