Texas Estates Code

§ 1158.104 — SALE ON CREDIT

ES § 1158.104Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1158. SALE OR PARTITION OF WARD'S PROPERTY · Art. C. SALE OF PERSONAL PROPERTY

Statute text

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(a)Estate personal property may not be sold on credit at public auction for a term of more than six months from the date of sale.

(b)Estate personal property purchased on credit at public auction may not be delivered to the purchaser until the purchaser gives a note for the amount due, with good and solvent personal security. The requirement that security be provided may be waived if the property will not be delivered until the note, with interest, has been paid.

Legislative history

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