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The tutorial discusses the revival of promissory notes and associated liens or mortgages after the statute of limitations expires. Every civil claim has a limitation period defined by legislators, meaning that after a specific duration, pursuing a damage claim is prohibited by law. For instance, in Texas, the statute of limitations for automobile collisions is two years, so claims not filed within that time are usually barred. For promissory notes, which represent agreements to repay borrowed money, the Texas statute of limitations is typically four years. These notes often come with security interests in assets like real estate or vehicles when money is borrowed.
