Sec. 356.555. INCREASED OR ADDITIONAL BOND NOT REQUIRED. Notwithstanding Sections 356.554(c) and (d), if the real estate sold is encumbered by a lien to secure a claim against the estate and is sold to the owner or holder of the secured claim in full payment, liquidation, and satisfaction of the claim, an increased general bond or additional bond may not be required except for the amount of any cash paid to the personal representative of the estate in excess of the amount necessary to pay, liquidate, and satisfy the claim in full.
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 356 - Sale of Estate Property
Subchapter L. Approval of Sale of Real Property and Transfer of Title
Section 356.552. Action of Court on Report
Section 356.553. Approval of Sale When Bond Not Required
Section 356.554. Sufficiency of Bond
Section 356.555. Increased or Additional Bond Not Required
Section 356.556. Approval or Disapproval Order