----

----

| NOT      APPLICABLE(State      or Other Jurisdiction of Incorporationor      Organization) |   | 75-0279735(I.R.S.      EmployerIdentification      No.) |
|--------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|

| 1700      Pacific Avenue, Suite 2770, Dallas, Texas(Address      of Principal Executive Offices) |   | 75201(Zip      Code) |
|--------------------------------------------------------------------------------------------------|--------|----------------------|

| Large      Accelerated Filer |  ̈ |   | Accelerated      Filer         | T       |
|------------------------------|--------|--------|--------------------------------|--------------|
| Non-Accelerated      Filer   |  ̈ |   | Smaller      reporting company |  ̈  |

----

----

----

----

|                                                                                                                            |   | March      31, |       |   | December      31, |   |
|---------------------------------------------------------------------------------------------------------------------------------|--------|----------------|------------|--------|-------------------|--------|
| Assets                                                                                                                          |   | 2009           |       |   | 2008              |   |
|                                                                                                                            |   | (Unaudited)    |       |   |              |   |
|                                                                                                                            |   |           |       |   |              |   |
| Cash      and cash equivalents                                                                                                  |   | $              | 7,457,091  |   |              | $      | 9,654,379 |   |
| Accrued      receivables                                                                                                        |   |           | 976,175    |   |              |   | 1,172,281 |   |
| Other      assets                                                                                                               |   |           | 55,990     |   |              |   | 79,986 |   |
| Prepaid      income taxes                                                                                                       |   |           | 558,633    |   |              |   | 982,350 |   |
| Notes      receivable for land sales                                                                                            |   |           | 17,428,226 |   |              |   | 17,656,227 |   |
| Water      wells, leasehold improvements, furniture, and equipment                                                              |   |           |       |   |              |   |   |   |
| - at cost less accumulated      depreciation                                                                                    |   |           | 92,793     |   |              |   | 78,307 |   |
| Real      estate acquired:                                                                                                      |   |           |       |   |              |   |   |   |
|       (10,793      acres at March 31, 2009 and December 31, 2008)                                 |   |           | 1,161,504  |   |              |   | 1,161,504 |   |
| Real      estate and royalty interests assigned through the 1888   Declaration      of Trust, no value assigned: |   |           |       |   |              |   |   |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| Land (surface rights) situated      in twenty counties in                                                                       |   |           |       |   |              |   |   |   |
| Texas – 952,455 acres in 2009      and 2008                                                                               |   |           | –    |   |              |   | – |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| Town lots in Loraine and Morita      – 541 lots in 2009 and 2008                                                          |   |           | –    |   |              |   | – |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| 1/16 nonparticipating perpetual      royalty interest in 386,988 acres in 2009    and      2008                  |   |           | –    |   |              |   | – |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| 1/128 nonparticipating      perpetual royalty interest in 85,414 acres in 2009    and      2008                  |   |           | –    |   |              |   | – |   |
|                                                                                                                            |   | $              | 27,730,412 |   |              | $      | 30,785,034 |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| Liabilities      and Capital                                                                                                    |   |           |       |   |              |   |   |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| Accounts      payable and accrued expenses                                                                                      |   | $              | 700,698    |   |              | $      | 786,848 |   |
| Other      taxes payable                                                                                                        |   |           | 217,062    |   |              |   | 201,863 |   |
| Unearned      revenues                                                                                                          |   |           | 438,374    |   |              |   | 438,374 |   |
| Deferred      taxes                                                                                                             |   |           | 5,176,369  |   |              |   | 5,141,275 |   |
| Pension      plan liability                                                                                                     |   |           | 712,381    |   |              |   | 692,002 |   |
| Total    liabilities                                                                                                            |   |           | 7,244,884  |   |              |   | 7,260,362 |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |
| Capital:                                                                                                                        |   |           |       |   |              |   |   |   |
| Certificates of Proprietary      Interest, par value $100                                                                       |   |           |       |   |              |   |   |   |
| each; outstanding 0      Certificates                                                                                           |   |           | –    |   |              |   | – |   |
| Sub-share Certificates in      Certificates of Proprietary                                                                      |   |           |       |   |              |   |   |   |
| Interest, par value $.03 1/3      each; outstanding:                                                                            |   |           |       |   |              |   |   |   |
| 10,124,346 Sub-shares in 2009      and 10,206,146 Sub-shares in 2008                                                            |   |           | –    |   |              |   | – |   |
| Other comprehensive income      (loss)                                                                                          |   |           | (615,590   | )      |              |   | (629,075 | ) |
| Net proceeds from all      sources                                                                                              |   |           | 21,101,118 |   |              |   | 24,153,747 |   |
| Total capital                                                                                                                   |   |           | 20,485,528 |   |              |   | 23,524,672 |   |
|                                                                                                                            |   | $              | 27,730,412 |   |              | $      | 30,785,034 |   |
|                                                                                                                            |   |           |       |   |              |   |   |   |

----

|                                                                                                                      |   | Three      Months EndedMarch      31, |       |
|---------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|------------|
|                                                                                                                      |   | 2009                                  |       |   | 2008 |   |
| Income:                                                                                                                   |   |                                  |       |   |   |   |
| Rentals, royalties and sundry      income                                                                                 |   | $                                     | 1,536,559  |   |   | $ | 4,155,899 |   |
|         Land      sales                                                           |   |                                  | --         |   |   |   | 447,040 |   |
| Interest income from notes      receivable                                                                                |   |                                  | 312,419    |   |   |   | 351,999 |   |
|                                                                                                                      |   |                                  | 1,848,978  |   |   |   | 4,954,938 |   |
| Expenses:                                                                                                                 |   |                                  |       |   |   |   |   |   |
| Taxes, other than income      taxes                                                                                       |   |                                  | 109,618    |   |   |   | 216,790 |   |
| General and administrative      expenses                                                                                  |   |                                  | 542,929    |   |   |   | 639,777 |   |
|                                                                                                                      |   |                                  | 652,547    |   |   |   | 856,567 |   |
|                Operating      income           |   |                                  | 1,196,431  |   |   |   | 4,098,371 |   |
| Interest income earned from      investments                                                                              |   |                                  | 17,099     |   |   |   | 80,589 |   |
|                                                                                                                      |   |                                  |       |   |   |   |   |   |
|                Income      before income taxes |   |                                  | 1,213,530  |   |   |   | 4,178,960 |   |
| Income      taxes                                                                                                         |   |                                  | 451,378    |   |   |   | 1,248,203 |   |
|  Net income                                                                                                          |   | $                                     | 762,152    |   |   | $ | 2,930,757 |   |
|                                                                                                                      |   |                                  |       |   |   |   |   |   |
| Average      number of sub-share certificates                                                                             |   |                                  |       |   |   |   |   |   |
| and equivalent sub-share      certificates                                                                                |   |                                  |       |   |   |   |   |   |
| outstanding                                                                                                               |   |                                  | 10,177,844 |   |   |   | 10,476,308 |   |
|                                                                                                                      |   |                                  |       |   |   |   |   |   |
| Basic      and dilutive earnings per sub-share certificate                                                                |   | $                                     | .07        |   |   | $ | .28 |   |
|                                                                                                                      |   |                                  |       |   |   |   |   |   |
| Cash      dividends per sub-share certificate                                                                             |   | $                                     | .19        |   |   | $ | .18 |   |

----

|                                                                                                                                                                                                                     |   | Three      MonthsEnded      March 31, |       |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|------------|
|                                                                                                                                                                                                                     |   | 2009                                  |       |   | 2008 |   |
| Cash      flows from operating activities:                                                                                                                                                                               |   |                                  |       |   |   |   |
| Net income                                                                                                                                                                                                               |   | $                                     | 762,152    |   |   | $ | 2,930,757 |   |
|        Adjustments      to reconcile net income to net                                                                                                                                |   |                                  |       |   |   |   |   |   |
|     cash      provided by operating activities:                                                                                                                                                      |   |                                  |       |   |   |   |   |   |
| Deferred taxes                                                                                                                                                                                                           |   |                                  | 35,094     |   |   |   | 17,503 |   |
| Depreciation and      amortization                                                                                                                                                                                       |   |                                  | 6,000      |   |   |   | 7,800 |   |
| Changes in operating assets and      liabilities:                                                                                                                                                                        |   |                                  |       |   |   |   |   |   |
|     Accrued      receivables and other assets                                                                                                                                                        |   |                                  | 220,102    |   |   |   | (485,089 | ) |
|     Real      estate acquired                                                                                                                                                                        |   |                                  | –    |   |   |   | (77,952 | ) |
|     Notes      receivable for land sales                                                                                                                                                             |   |                                  | 228,001    |   |   |   | (46,911 | ) |
|     Accounts      payable, accrued expenses                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
|                        and      other liabilities                                                     |   |                                  | (37,087    | ) |   |   | 98,817 |   |
|     Prepaid      income taxes                                                                                                                                                                        |   |                                  | 423,717    |   |   |   | 1,232,515 |   |
| Net cash provided by operating      activities                                                                                                                                                                           |   |                                  | 1,637,979  |   |   |   | 3,677,440 |   |
|                                                                                                                                                                                                                     |   |                                  |       |   |   |   |   |   |
| Cash      flows from investing activities:                                                                                                                                                                               |   |                                  |       |   |   |   |   |   |
| Purchase of fixed      assets                                                                                                                                                                                            |   |                                  | (20,485    | ) |   |   | (17,133 | ) |
|                              Net      cash used in investing activities |   |                                  | (20,485    | ) |   |   | (17,133 | ) |
|                                                                                                                                                                                                                     |   |                                  |       |   |   |   |   |   |
| Cash      flows from financing activities:                                                                                                                                                                               |   |                                  |       |   |   |   |   |   |
| Purchase of Sub-share      Certificates in Certificates of                                                                                                                                                               |   |                                  |       |   |   |   |   |   |
|            Proprietary      Interest                                                                                                                              |   |                                  | (1,884,338 | ) |   |   | (1,103,181 | ) |
| Dividends paid                                                                                                                                                                                                           |   |                                  | (1,930,444 | ) |   |   | (1,884,668 | ) |
|                 Net      cash used in financing activities                                                                               |   |                                  | (3,814,782 | ) |   |   | (2,987,849 | ) |
|                                                                                                                                                                                                                     |   |                                  |       |   |   |   |   |   |
|                 Net      increase (decrease) in cash and cash                                                                            |   |                                  |       |   |   |   |   |   |
|                        equivalents                                                                                                  |   |                                  | (2,197,288 | ) |   |   | 672,458 |   |
|                                                                                                                                                                                                                     |   |                                  |       |   |   |   |   |   |
| Cash      and cash equivalents, beginning of period                                                                                                                                                                      |   |                                  | 9,654,379  |   |   |   | 10,153,202 |   |
|                                                                                                                                                                                                                     |   |                                  |       |   |   |   |   |   |
| Cash      and cash equivalents, end of period                                                                                                                                                                            |   | $                                     | 7,457,091  |   |   | $ | 10,825,660 |   |
|                                                                                                                                                                                                                     |   |                                  |       |   |   |   |   |   |

----

|   | TEXAS      PACIFIC LAND TRUST |
|--------|-------------------------------|

|   | Notes      To Unaudited Financial Statements |
|--------|----------------------------------------------|

|   | March      31, 2009 |
|--------|---------------------|

| (1) | In      the opinion of management, the accompanying unaudited financial statements      contain all adjustments (consisting of only normal recurring accruals)      necessary to present fairly the financial position of Texas Pacific Land      Trust (the “Trust”) as of March 31, 2009 and the results of its operations      for the three month periods ended March 31, 2009 and 2008, respectively,      and its cash flows for the three month periods ended March 31, 2009 and      2008, respectively.  The financial statements and footnotes      included herein should be read in conjunction with the Trust’s annual      financial statements as of December 31, 2008 and 2007 and for each of the      years in the three year period ended December 31, 2008 included in the      Trust’s Annual Report on Form 10-K for the year ended December 31,      2008. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | No      value has been assigned to the land held by the Trust other than parcels      which have been acquired through foreclosure and a limited number of      parcels which have been acquired because they were offered for sale and      were contiguous to parcels already owned by the      Trust.  Consequently, no allowance for depletion is computed,      and no charge to income is made, with respect thereto, and no cost is      deducted from the proceeds of the land sales in computing gain or loss      thereon. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The      Sub-shares and the Certificates of Proprietary Interest are freely      interchangeable in the ratio of one Certificate of Proprietary Interest      for 3,000 Sub-shares or 3,000 Sub-shares for one Certificate of      Proprietary Interest. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The      Trust’s effective Federal income tax rate is less than the 34% statutory      rate because taxable income is reduced by statutory percentage depletion      allowed on mineral royalty income. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | The      results of operations for the three month period ended March 31, 2009 are      not necessarily indicative of the results to be expected for the full      year. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | The      Trust invests cash in excess of daily requirements primarily in bank      deposit and savings accounts, certificates of deposit and U. S. Treasury      bills with maturities of ninety days or less.  Such investments      are deemed to be highly liquid debt instruments and classified as cash      equivalents for purposes of the statements of cash  flows. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                   |   | 2009   |    |   | 2008   |   |
|------------------------|--------|--------|---------|--------|--------|--------|
|                   |   |   |    |   |   |   |
| Income      taxes paid |   | $      | – |   |   | $      | – |   |

| (7) | SFAS      No. 131, “Disclosures      about Segments of an Enterprise and Related      Information”  establishes standards for the way public      business enterprises are to report information about operating      segments.  SFAS No. 131 utilizes the management approach as a      basis for identifying reportable segments.  The management      approach is based on the way that management organizes the segments within      the enterprise for making operating decisions and assessing      performance.  The Trust’s management views its operations as one      segment and believes the only significant activity is managing the land      which was conveyed to the Trust in 1888.  The Trust’s management      makes decisions about resource allocation and performance assessment based      on the same |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

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| (c) | During      the first quarter of 2009, the Trust repurchased Sub-share certificates as      follows: |
|-----|------------------------------------------------------------------------------------------------------|

| Period                                     |   | TotalNumber      ofSub-sharesPurchased |               |   | AveragePrice      PaidperSub-share |   |   | Total      Numberof      Sub-sharesPurchased      asPart      of PubliclyAnnounced      Plansor Programs |   |   | MaximumNumber      (orApproximateDollar      Value) ofSub-shares      that May      Yet BePurchased      Underthe      Plans orPrograms |   |
|--------------------------------------------|--------|----------------------------------------|--------------------|--------|------------------------------------|--------|--------|----------------------------------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------|--------|
| January      1, through January 31, 2009   |   |                                   | 16,039   |   |                               |   | $26.35 |                                                                                                     |   |   | –                                                                                                                                      |   |   |   | – |   |
| February      1, through February 28, 2009 |   |                                   | 29,873   |   |                               |   | $23.63 |                                                                                                     |   |   | –                                                                                                                                      |   |   |   | – |   |
| March      1, through March 31, 2009       |   |                                   | 35,888   |   |                               |   | $21.06 |                                                                                                     |   |   | –                                                                                                                                      |   |   |   | – |   |
| Total                                      |   |                                   | 81,800*            |   |                               |   | $23.04 |                                                                                                     |   |   | –                                                                                                                                      |   |   |   | – |   |

----

|   | 31.1 | Rule      13a-14(a) Certification of Chief Executive  Officer. |
|--------|------|----------------------------------------------------------------|

|   | 31.2 | Rule      13a-14(a) Certification of Chief Financial  Officer. |
|--------|------|----------------------------------------------------------------|

|   | 32.1 | Certification      of Chief Executive Officer furnished pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | Certification      of Chief Financial Officer furnished pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------|

----

|                                   |   | TEXAS PACIFIC LAND TRUST(Registrant)   |
|----------------------------------------|--------|--------------------------------------------------|
| Date:  May 7,      2009 |   | By:                                              |  /s/      Roy Thomas  |
|                                   |   |                                             | Roy      Thomas, General Agent,Authorized      Signatory and Chief Executive Officer |
|                                   |   |                                             |
|                                   |   |                                             |
| Date:  May      7, 2009      |   | By:                                              |  /s/      David M. Peterson |
|                                   |   |                                             | David      M. Peterson, Assistant General Agent,and      Chief Financial Officer |
|                                   |   |                                             |

----

| EXHIBITNUMBER |   | DESCRIPTION                                                                                                             |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                    |
| 31.1          |   | Rule      13a-14(a) Certification of Chief Executive Officer.                                                           |
|          |   |                                                                                                                    |
| 31.2          |   | Rule      13a-14(a) Certification of Chief Financial Officer.                                                           |
|          |   |                                                                                                                    |
| 32.1          |   | Certification      of Chief Executive Officer furnished pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002. |
|          |   |                                                                                                                    |
| 32.2          |   | Certification      of Chief Financial Officer furnished pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002. |
|          |   |                                                                                                                    |