Texas Estates Code

§ 1151.201 — MORTGAGE OR PLEDGE OF ESTATE PROPERTY AUTHORIZED IN CERTAIN CIRCUMSTANCES

ES § 1151.201Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1151. RIGHTS, POWERS, AND DUTIES UNDER GUARDIANSHIP · Art. E. AUTHORITY OF GUARDIAN TO ENGAGE IN CERTAIN BORROWING

Statute text

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(a)Under court order, the guardian may mortgage or pledge any property of a guardianship estate by deed of trust or otherwise as security for an indebtedness when necessary for:

(1)the payment of any ad valorem, income, gift, or transfer tax due from a ward, regardless of whether the tax is assessed by a state, a political subdivision of the state, the federal government, or a foreign country;

(2)the payment of any expense of administration, including amounts necessary for the operation of a business, farm, or ranch owned by the estate;

(3)the payment of any claim allowed and approved, or established by suit, against the ward or the ward's estate;

(4)the renewal and extension of an existing lien;

(5)an improvement or repair to the ward's real estate if:

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Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.