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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Except as provided by Subsection (b), an action to enforce the interest owner's oil and gas lien must be brought not later than the first anniversary of the last day of the month after the date proceeds from the sale of oil or gas subject to the lien are required by law or contract to be paid to the interest owner, but only as to the oil or gas sold during that month.
(b) The commencement of a proceeding by or against any person claiming an interest in any property subject to the oil and gas lien seeking to adjudicate the person as bankrupt or insolvent, or seeking relief of the person's debts under any law relating to bankruptcy, insolvency, reorganization, or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, or other similar official for the person or for any substantial part of the person's property shall toll the one-year period prescribed by Subsection (a) in which to bring an action to enforce the oil and gas lien for an additional period of 90 days after the earlier of the date:
(1) the proceeding is dismissed or otherwise finally concluded; or
(2) final relief is obtained from the appropriate tribunal authorizing the commencement of the action to enforce the oil and gas lien.
Cite this article: FindLaw.com - Texas Property Code - PROP § 67.010. Limitation on Filing Action to Enforce Lien - last updated January 01, 2024 | https://codes.findlaw.com/tx/property-code/prop-sect-67-010/
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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