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The tutorial discusses the revival of promissory notes and associated liens or mortgages after the statute of limitations expires. All civil claims have limitations set by law, meaning claims can be barred after a certain period. For instance, in Texas, the statute of limitations for automobile collision claims is two years; failure to file within this timeframe typically bars the claim. For promissory notes, which are agreements to repay borrowed money, the statute of limitations is generally four years. These notes often come with security interests, such as real estate or vehicles, to secure the loan.
