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Current as of January 01, 2024 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Texas Estates Code - EST § 1157.104. Payment of Proceeds from Sale of Property Securing Debt - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-1157-104/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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