Sec. 355.154. PREFERRED DEBT AND LIEN. When a claim for a debt is allowed and approved under Section 355.151(a)(2):
(1) a further claim for the debt may not be made against other estate assets;
(2) the debt thereafter remains a preferred lien against the property securing the debt; and
(3) the property remains security for the debt in any distribution or sale of the property before final maturity and payment of the debt.
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 D. Presentment and Payment of Secured Claims for Money
Section 355.151. Option to Treat Claim as Matured Secured Claim or Preferred Debt and Lien
Section 355.152. Period for Specifying Treatment of Secured Claim
Section 355.153. Payment of Matured Secured Claim
Section 355.154. Preferred Debt and Lien
Section 355.155. Payment of Maturities on Preferred Debt and Lien
Section 355.1551. Claim Holder Duty to Possess or Sell Within Reasonable Time
Section 355.156. Affidavit Required for Foreclosure
Section 355.157. Citation on Application
Section 355.158. Hearing on Application
Section 355.159. Manner of Foreclosure; Minimum Price
Section 355.160. Unsuccessful Foreclosure; Subsequent Application