Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3139 by Naishtat (Relating to prompt action by certain holders of preferred debt and lien claims against secured property of a decedent's estate.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would add Section 355.1551, Estates Code, regarding presentment and payment of secured claims for money against an estate. It would require a claim holder whose claim is allowed and approved as a preferred debt against specific property, and who elects to take possession or sell the property securing the debt, to do so within a reasonable time, to be determined by the court.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council