1157.104 – PAYMENT OF PROCEEDS FROM SALE OF PROPERTY
Texas Estates Code § 1157.104
Summary
This law mandates that a guardian of the estate must pay proceeds from the sale of property securing a debt to the lienholder if those proceeds are not needed to settle higher-priority debts. It ensures that lienholders receive payment from the sale proceeds when appropriate.
Guardians must pay lienholders if proceeds aren't needed for higher debts.
Applies to proceeds from property sales securing debts.
Failure to comply may result in legal consequences for the guardian.
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In simple terms: Learn about Texas's PAYMENT OF PROCEEDS FROM SALE OF PROPERTY law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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