Sec. 1157.104. PAYMENT OF PROCEEDS FROM SALE OF PROPERTY SECURING DEBT. (a) If a guardian of the estate has on hand the proceeds of a sale made to satisfy a mortgage or other lien and the proceeds or any part of the proceeds are not required for the payment of any debts against the estate that have a preference over the mortgage or other lien, the guardian shall pay the proceeds to a holder of the mortgage or other lien.
(b) If the guardian fails to pay the proceeds as required by this section, the holder of a mortgage or other lien, on proof of the mortgage or other lien, may obtain an order from the court directing the payment of proceeds to be made.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Structure Texas Statutes
Title 3 - Guardianship and Related Procedures
Subtitle E - Administration of Guardianship
Chapter 1157 - Presentment and Payment of Claims
Subchapter C. Payment of Claims, Allowances, and Expenses
Section 1157.101. Payment of Approved or Established Claim
Section 1157.102. Payment of Unauthenticated Claim
Section 1157.103. Priority of Payment of Claims
Section 1157.104. Payment of Proceeds From Sale of Property Securing Debt
Section 1157.105. Claimant's Petition for Allowance and Payment of Claim
Section 1157.106. Payment When Assets Insufficient to Pay Certain Claims