Texas Property Code

§ 114.002 — LIABILITY OF SUCCESSOR TRUSTEE FOR BREACH OF TRUST BY PREDECESSOR

PR § 114.002Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 114. LIABILITIES, RIGHTS, AND REMEDIES OF TRUSTEES, BENEFICIARIES, AND THIRD PERSONS · Art. A. LIABILITY OF TRUSTEE

Statute text

View on source

A successor trustee is liable for a breach of trust of a predecessor only if he knows or should know of a situation constituting a breach of trust committed by the predecessor and the successor trustee:

(1)improperly permits it to continue;

(2)fails to make a reasonable effort to compel the predecessor trustee to deliver the trust property; or

(3)fails to make a reasonable effort to compel a redress of a breach of trust committed by the predecessor trustee.

Legislative history

Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.