Texas Property Code
§ 41.0021 — HOMESTEAD IN QUALIFYING TRUST
PR § 41.0021Title 5. EXEMPT PROPERTY AND LIENS · Part A. PROPERTY EXEMPT FROM CREDITORS' CLAIMS · Ch. 41. INTERESTS IN LAND · Art. A. EXEMPTIONS IN LAND DEFINED
Statute text
View on source(a)In this section, "qualifying trust" means an express trust:
(1)in which the instrument or court order creating the express trust, an instrument transferring property to the trust, or any other agreement that is binding on the trustee provides that a settlor or beneficiary of the trust has the right to:
(A)revoke the trust without the consent of another person other than a spouse who is also a settlor of the trust;
(B)exercise an inter vivos general power of appointment over the property that qualifies for the homestead exemption, either alone or when aggregated with property subject to an inter vivos general power of appointment held by a spouse who is also a settlor of the trust; or
(C)use and occupy the residential property as the settlor's or beneficiary's principal residence at no cost, or rent free and without charge, except for taxes and other costs and expenses specified in the instrument or court order:
(i)for the life of the settlor or beneficiary;
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 846 (H.B. 2780), Sec. 12, eff. September 1, 2019. Acts 2023, 88th Leg., R.S., Ch. 446 (H.B. 2196), Sec. 1, eff. June 9, 2023.