1157.151 – OPTION TO TREAT CLAIM AS MATURED SECURED CLAIM
Texas Estates Code § 1157.151
Summary
This law allows claimants against a ward's estate to specify if their claim should be treated as a matured secured claim or a preferred debt. This designation affects how the claim will be paid during the estate's administration process.
Claimants must specify claim type when presenting a secured claim.
Options include matured secured claim or preferred debt.
Determines payment priority during estate administration.
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In simple terms: Learn about Texas's OPTION TO TREAT CLAIM AS MATURED SECURED CLAIM 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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