1157.153 – PAYMENT OF MATURITIES ON PREFERRED DEBT AND
Texas Estates Code § 1157.153
Summary
This law requires guardians of an estate to pay off accrued maturities on preferred debt within 12 months of being granted guardianship. If the property securing the debt is not sold or distributed within this timeframe, the guardian must fulfill all contractual obligations related to the debt.
Guardians must act within 12 months of guardianship grant.
Accrued maturities on preferred debt must be paid promptly.
Guardians must comply with contract terms securing the debt.
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In simple terms: Learn about Texas's PAYMENT OF MATURITIES ON PREFERRED DEBT AND 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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