Texas Estates Code

§ 1158.555 — INCREASED OR ADDITIONAL BOND NOT REQUIRED

ES § 1158.555Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1158. SALE OR PARTITION OF WARD'S PROPERTY · Art. L. APPROVAL OF SALE OF REAL PROPERTY AND TRANSFER OF TITLE

Statute text

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Notwithstanding Sections 1158.554(c) and (d), if the real estate sold is encumbered by a lien to secure a claim against the estate and is sold to the owner or holder of the secured claim in full payment, liquidation, and satisfaction of the claim, an increased general bond or additional bond may not be required except for the amount of any cash paid to the guardian of the estate in excess of the amount necessary to pay, liquidate, and satisfy the claim in full.

Legislative history

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