Sec. 355.104. PAYMENT OF PROCEEDS FROM SALE OF PROPERTY SECURING DEBT. (a) If a personal representative has the proceeds of a sale made to satisfy a mortgage, lien, or security interest, 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, lien, or security interest, the representative shall pay the proceeds to any holder of a mortgage, lien, or security interest. If there is more than one mortgage, lien, or security interest against the property, the representative shall pay the proceeds to the holders of the mortgages, liens, or security interests in the order of priority of the holders' mortgages, liens, or security interests.
(b) A holder of a mortgage, lien, or security interest, on proof of a personal representative's failure to pay proceeds under this section, may obtain an order from the court directing the payment to be made.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle H - Continuation of Administration
Chapter 355 - Presentment and Payment of Claims
Subchapter C. Payment of Claims, Allowances, and Expenses
Section 355.101. Approval or Establishment of Claim Required for Payment
Section 355.102. Claims Classification; Priority of Payment
Section 355.103. Priority of Certain Payments
Section 355.104. Payment of Proceeds From Sale of Property Securing Debt
Section 355.105. Claimant's Petition for Allowance and Payment of Claim
Section 355.106. Order for Payment of Claim Obtained by Personal Representative
Section 355.107. Order for Payment of Claim Obtained by Creditor
Section 355.108. Payment When Assets Insufficient to Pay Claims of Same Class
Section 355.109. Abatement of Bequests
Section 355.110. Allocation of Funeral Expenses
Section 355.111. Payment of Court Costs Relating to Claim
Section 355.112. Joint Obligation for Payment of Certain Debts