Texas Estates Code

§ 1161.151 — AUTHORITY TO INVEST IN REAL ESTATE; PROCEDURE AND REQUIREMENTS

ES § 1161.151Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1161. INVESTMENTS AND LOANS OF ESTATES OF WARDS · Art. D. INVESTMENTS IN REAL ESTATE

Statute text

View on source

(a)The guardian of the estate may invest estate assets in real estate if:

(1)the guardian believes that the investment is in the ward's best interests;

(2)there are on hand sufficient additional assets to provide a return sufficient to provide for:

(A)the education, support, and maintenance of the ward and others the ward supports, if applicable; and

(B)the maintenance, insurance, and taxes on the real estate in which the guardian wishes to invest;

(3)the guardian files a written application with the court requesting a court order authorizing the guardian to make the desired investment and stating the reasons why, in the guardian's opinion, the investment would be for the ward's benefit; and

…

Legislative history

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