Texas § ES.355.155 - PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN
Full text of Texas The Texas Constitution § ES.355.155 — PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN, with citation guidance and answers to common questions.
§ ES.355.155. PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN
PAYMENT OF MATURITIES ON PREFERRED DEBT AND LIEN. (a) If property securing a debt for which a claim is allowed, approved, and fixed under Section 355.151 (a)(2) is not sold or distributed within six months from the date letters testamentary or of administration are granted, the personal representative of the estate shall: (1) promptly pay all maturities that have accrued on the debt according to the terms of the debt; and (2) perform all the terms of any contract securing the debt. (b) If the personal representative defaults in payment or performance under Subsection (a), on application of the claim holder, the court shall: (1) 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; (2) require the sale of the property free of the lien and apply the proceeds to the payment of the whole debt; or (3) authorize foreclosure by the claim holder as provided by this subchapter. Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502 ), Sec. 1, eff. January 1, 2014.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ES.355.155
What does The Texas Constitution § ES.355.155 cover?
Section ES.355.155 ("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.355.155?
A common citation format is "The Texas Constitution § ES.355.155" (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.355.155 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.