Texas Estates Code

§ 1352.056 — USE OF PROCEEDS

ES § 1352.056Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part I. OTHER SPECIAL PROCEEDINGS AND SUBSTITUTES FOR GUARDIANSHIP · Ch. 1352. MORTGAGE OF MINOR'S INTEREST IN RESIDENCE HOMESTEAD · Art. B. MORTGAGE OF MINOR'S INTEREST WITHOUT GUARDIANSHIP

Statute text

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Proceeds of a home equity loan that is the subject of an application under Section 1352.053 that are attributable to the minor's interest may be spent only to:

(1)make improvements to the homestead;

(2)pay for the minor's education or medical expenses; or

(3)pay the loan's outstanding balance.

Legislative history

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