reglab/housing_qa huggingface dataset:
TX Prop § 112.008 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter A. Creation|Section 112.008. Capacity of Trustee

Sec. 112.008.  CAPACITY OF TRUSTEE.  (a)  The trustee must have the legal capacity to take, hold, and transfer the trust property.  If the trustee is a corporation, it must have the power to act as a trustee in this state.(b)  Except as provided by Section 112.034, the fact that the person named as trustee is also a beneficiary does not disqualify the person from acting as trustee if he is otherwise qualified.(c)  The settlor of a trust may be the trustee of the trust.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.009 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter A. Creation|Section 112.009. Acceptance by Trustee

Sec. 112.009.  ACCEPTANCE BY TRUSTEE.  (a)  The signature of the person named as trustee on the writing evidencing the trust or on a separate written acceptance is conclusive evidence that the person accepted the trust.  A person named as trustee who exercises power or performs duties under the trust is presumed to have accepted the trust, except that a person named as trustee may engage in the following conduct without accepting the trust:(1)  acting to preserve the trust property if, within a reasonable time after acting, the person gives notice of the rejection of the trust to:(A)  the settlor; or(B)  if the settlor is deceased or incapacitated, all beneficiaries then entitled to receive trust distributions from the trust; and(2)  inspecting or investigating trust property for any purpose, including determining the potential liability of the trust under environmental or other law.(b)  A person named as trustee who does not accept the trust incurs no liability with respect to the trust.(c)  If the person named as the original trustee does not accept the trust or if the person is dead or does not have capacity to act as trustee, the person named as the alternate trustee under the terms of the trust or the person selected as alternate trustee according to a method prescribed in the terms of the trust may accept the trust.  If a trustee is not named or if there is no alternate trustee designated or selected in the manner prescribed in the terms of the trust, the court shall appoint a trustee on a petition of any interested person.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.Amended by: Acts 2005, 79th Leg., Ch. 148 (H.B. 1190), Sec. 4, eff. January 1, 2006.|
TX Prop § 112.010 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter A. Creation|Section 112.010. Presumed Acceptance by Beneficiary; Disclaimer

Sec. 112.010.  PRESUMED ACCEPTANCE BY BENEFICIARY; DISCLAIMER.  (a)  Acceptance by a beneficiary of an interest in a trust is presumed.(b)  A disclaimer of an interest in or power over trust property is governed by Chapter 240.(c)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 562 , Sec. 16(4), eff. September 1, 2015.(c-1)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 562 , Sec. 16(4), eff. September 1, 2015.(c-2)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 562 , Sec. 16(4), eff. September 1, 2015.(d)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 562 , Sec. 16(4), eff. September 1, 2015.(e)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 562 , Sec. 16(4), eff. September 1, 2015.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.  Amended by Acts 1987, 70th Leg., ch. 467, Sec. 3, eff. Sept. 1, 1987;  Acts 1993, 73rd Leg., ch. 846, Sec. 3, eff. Sept. 1, 1993.Amended by: Acts 2009, 81st Leg., R.S., Ch. 672 (H.B. 2368), Sec. 2, eff. September 1, 2009.Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 13, eff. September 1, 2015.Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 14, eff. September 1, 2015.Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 16(4), eff. September 1, 2015.|
TX Prop § 112.011 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter A. Creation|Section 112.011. Posthumous Class Gifts Membership

Sec. 112.011.  POSTHUMOUS CLASS GIFTS MEMBERSHIP.  (a)  A right to take as a member under a class gift does not accrue to any person unless the person is born before, or is in gestation at, the time of death of the person by which the class is measured and survives that person by at least 120 hours.(b)  For purposes of Subsection (a), a person is:(1)  considered to be in gestation if insemination or implantation occurs at or before the time of death of the person by which the class is measured; and(2)  presumed to be in gestation at the time of death of the person by which the class is measured if the person was born before the 301st day after the date of the person's death.(c)  A provision in the trust instrument that is contrary to this section prevails over this section.|Added by Acts 2017, 85th Leg., R.S., Ch. 844 (H.B. 2271), Sec. 37, eff. September 1, 2017.|
TX Prop § 112.031 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.031. Trust Purposes

Sec. 112.031.  TRUST PURPOSES.  A trust may be created for any purpose that is not illegal.  The terms of the trust may not require the trustee to commit a criminal or tortious act or an act that is contrary to public policy.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.032 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.032. Active and Passive Trusts; Statute of Uses

Sec. 112.032.  ACTIVE AND PASSIVE TRUSTS;  STATUTE OF USES.  (a)  Except as provided by Subsection (b), title to real property held in trust vests directly in the beneficiary if the trustee has neither a power nor a duty related to the administration of the trust.(b)  The title of a trustee in real property is not divested if the trustee's title is not merely nominal but is subject to a power or duty in relation to the property.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.033 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.033. Reservation of Interests and Powers by Settlor

Sec. 112.033.  RESERVATION OF INTERESTS AND POWERS BY SETTLOR.  If during the life of the settlor an interest in a trust or the trust property is created in a beneficiary other than the settlor, the disposition is not invalid as an attempted testamentary disposition merely because the settlor reserves or retains, either in himself or another person who is not the trustee, any or all of the other interests in or powers over the trust or trust property, such as:(1)  a beneficial life interest for himself;(2)  the power to revoke, modify, or terminate the trust in whole or in part;(3)  the power to designate the person to whom or on whose behalf the income or principal is to be paid or applied;(4)  the power to control the administration of the trust in whole or in part;(5)  the right to exercise a power or option over property in the trust or over interests made payable to the trust under an employee benefit plan, life insurance policy, or otherwise;  or(6)  the power to add property or cause additional employee benefits, life insurance, or other interests to be made payable to the trust at any time.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.0335 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.0335. Construction of Certain Trusts

Sec. 112.0335.  CONSTRUCTION OF CERTAIN TRUSTS.  (a)  Unless the terms of the trust provide otherwise, if a trust is created and amendable or revocable by the settlor, or by the settlor and the settlor's spouse, Chapter 255, Estates Code, applies at the settlor's death to the construction and interpretation of at-death transfers as if the settlor of the trust is the testator, the beneficiaries of the at-death transfer are devisees, and the at-death transfers are devises.(b)  Section 355.109, Estates Code, applies to the abatement of at-death transfers.(c)  For purposes of this section, "at-death transfer" means a transfer pursuant to the terms of a trust described by Subsection (a) that is intended to take effect or become irrevocable by reason of the settlor's death.(d)  For purposes of the Estates Code provisions specified by this section:(1)  an at-death transfer of specifically identifiable trust property is a specific bequest, devise, or legacy;(2)  an at-death transfer from the general assets of the trust that does not transfer specifically identifiable property is a general bequest, devise, or legacy; and(3)  an at-death transfer of trust property that remains after all specific and general transfers have been satisfied is the residuary estate.|Added by Acts 2019, 86th Leg., R.S., Ch. 1112 (H.B. 2245), Sec. 2, eff. September 1, 2019.|
TX Prop § 112.034 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.034. Merger

Sec. 112.034.  MERGER.  (a)  If a settlor transfers both the legal title and all equitable interests in property to the same person or retains both the legal title and all equitable interests in property in himself as both the sole trustee and the sole beneficiary, a trust is not created and the transferee holds the property as his own.  This subtitle does not invalidate a trust account validly created and in effect under Chapter 113, Estates Code.(b)  Except as provided by Subsection (c) of this section, a trust terminates if the legal title to the trust property and all equitable interests in the trust become united in one person.(c)  The title to trust property and all equitable interests in the trust property may not become united in a beneficiary, other than the settlor, whose interest is protected under a spendthrift trust, and in that case the court shall appoint a new trustee or cotrustee to administer the trust for the benefit of the beneficiary.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.Amended by: Acts 2019, 86th Leg., R.S., Ch. 846 (H.B. 2780), Sec. 13, eff. September 1, 2019.|
TX Prop § 112.036 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.036. Rule Against Perpetuities

Sec. 112.036.  RULE AGAINST PERPETUITIES.  (a)  The rule against perpetuities applies to an interest in a trust other than a charitable trust.(b)  For purposes of this section, the effective date of a trust is the date the trust becomes irrevocable.(c)  An interest in a trust must vest, if at all:(1)  not later than 300 years after the effective date of the trust, if the effective date of the trust is on or after September 1, 2021; or(2)  except as provided by Subsection (d), not later than 21 years after some life in being at the time of the creation of the interest, plus a period of gestation, if the effective date of the trust is before September 1, 2021.(d)  An interest in a trust that has an effective date before September 1, 2021, may vest as described by Subsection (c)(1) if the trust instrument provides that an interest in the trust vests under the provisions of this section applicable to trusts on the date that the interest vests.(e)  Any interest in a trust may be reformed or construed to the extent and as provided by Section 5.043.(f)  Under this section, a settlor of a trust may not direct that a real property asset be retained or refuse that a real property asset may be sold for a period longer than 100 years.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.  Amended by Acts 1984, 68th Leg., 2nd C.S., ch. 18, Sec. 10, eff. Oct. 2, 1984.Amended by: Acts 2021, 87th Leg., R.S., Ch. 792 (H.B. 654), Sec. 1, eff. September 1, 2021.|
TX Prop § 112.037 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.037. Trust for Care of Animal

Sec. 112.037.  TRUST FOR CARE OF ANIMAL.  (a)  A trust may be created to provide for the care of an animal alive during the settlor's lifetime.  The trust terminates on the death of the animal or, if the trust is created to provide for the care of more than one animal alive during the settlor's lifetime, on the death of the last surviving animal.(b)  A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if a person is not appointed in the terms of the trust, by a person appointed by the court.  A person having an interest in the welfare of an animal that is the subject of a trust authorized by this section may request the court to appoint a person to enforce the trust or to remove a person appointed to enforce the trust.(c)  Except as provided by Subsections (d) and (e), property of a trust authorized by this section may be applied only to the property's intended use under the trust.(d)  Property of a trust authorized by this section may be applied to a use other than the property's intended use under the trust to the extent the court determines that the value of the trust property exceeds the amount required for the intended use.(e)  Except as otherwise provided by the terms of the trust, property not required for the trust's intended use must be distributed to:(1)  if the settlor is living at the time the trust property is distributed, the settlor; or(2)  if the settlor is not living at the time the trust property is distributed:(A)  if the settlor has a will, beneficiaries under the settlor's will; or(B)  in the absence of an effective provision in a will, the settlor's heirs.(f)  For purposes of Section 112.036, the lives in being used to determine the maximum duration of a trust authorized by this section are:(1)  the individual beneficiaries of the trust;(2)  the individuals named in the instrument creating the trust; and(3)  if the settlor or settlors are living at the time the trust becomes irrevocable, the settlor or settlors of the trust or, if the settlor or settlors are not living at the time the trust becomes irrevocable, the individuals who would inherit the settlor or settlors' property under the law of this state had the settlor or settlors died intestate at the time the trust becomes irrevocable.|Added by Acts 2005, 79th Leg., Ch. 148 (H.B. 1190), Sec. 6, eff. January 1, 2006.|
TX Prop § 112.038 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter B. Validity|Section 112.038. Forfeiture Clause

Sec. 112.038.  FORFEITURE CLAUSE.  (a)  A provision in a trust that would cause a forfeiture of or void an interest for bringing any court action, including contesting a trust, is enforceable unless in a court action determining whether the forfeiture clause should be enforced, the person who brought the action contrary to the forfeiture clause establishes by a preponderance of the evidence that:(1)  just cause existed for bringing the action; and(2)  the action was brought and maintained in good faith.(b)  This section is not intended to and does not repeal any law, recognizing that forfeiture clauses generally will not be construed to prevent a beneficiary from seeking to compel a fiduciary to perform the fiduciary's duties, seeking redress against a fiduciary for a breach of the fiduciary's duties, or seeking a judicial construction of a will or trust.|Added by Acts 2009, 81st Leg., R.S., Ch. 414 (H.B. 1969), Sec. 3, eff. June 19, 2009.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 657 (S.B. 1197), Sec. 2, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 351 (H.B. 2380), Sec. 3.01, eff. September 1, 2013.Acts 2017, 85th Leg., R.S., Ch. 62 (S.B. 617), Sec. 3, eff. September 1, 2017.|
TX Prop § 112.051 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter C. Revocation, Modification, and Termination of Trusts|Section 112.051. Revocation, Modification, or Amendment by Settlor

Sec. 112.051.  REVOCATION, MODIFICATION, OR AMENDMENT BY SETTLOR.  (a)  A settlor may revoke the trust unless it is irrevocable by the express terms of the instrument creating it or of an instrument modifying it.(b)  The settlor may modify or amend a trust that is revocable, but the settlor may not enlarge the duties of the trustee without the trustee's express consent.(c)  If the trust was created by a written instrument, a revocation, modification, or amendment of the trust must be in writing.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.052 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter C. Revocation, Modification, and Termination of Trusts|Section 112.052. Termination

Sec. 112.052.  TERMINATION.  A trust terminates if by its terms the trust is to continue only until the expiration of a certain period or until the happening of a certain event and the period of time has elapsed or the event has occurred.  If an event of termination occurs, the trustee may continue to exercise the powers of the trustee for the reasonable period of time required to wind up the affairs of the trust and to make distribution of its assets to the appropriate beneficiaries.  The continued exercise of the trustee's powers after an event of termination does not affect the vested rights of beneficiaries of the trust.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.053 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter C. Revocation, Modification, and Termination of Trusts|Section 112.053. Disposition of Trust Property on Failure of Trust

Sec. 112.053.  DISPOSITION OF TRUST PROPERTY ON FAILURE OF TRUST.  The settlor may provide in the trust instrument how property may or may not be disposed of in the event of failure, termination, or revocation of the trust.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.  Amended by Acts 1991, 72nd Leg., ch. 895, Sec. 17, eff. Sept. 1, 1991.|
TX Prop § 112.056 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter C. Revocation, Modification, and Termination of Trusts|Section 112.056. Permissive Amendment by Trustee of Charitable Trust

Sec. 112.056.  PERMISSIVE AMENDMENT BY TRUSTEE OF CHARITABLE TRUST.  (a)  If the settlor of a trust that is described under Subsection (a) of Section 112.055 of this Act is living and competent and consents, the trustee may, without judicial proceedings, amend the trust to expressly include or exclude the provisions required by Subsection (a) of Section 112.055 of this Act.(b)  The amendment must be in writing, and it is effective when a duplicate original is filed with the attorney general's office.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 112.059 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 112 - Creation, Validity, Modification, and Termination of Trusts|Subchapter C. Revocation, Modification, and Termination of Trusts|Section 112.059. Termination of Uneconomic Trust

Sec. 112.059.  TERMINATION OF UNECONOMIC TRUST.  (a)  After notice to beneficiaries who are distributees or permissible distributees of trust income or principal or who would be distributees or permissible distributees if the interests of the distributees or the trust were to terminate and no powers of appointment were exercised, the trustee of a trust consisting of trust property having a total value of less than $50,000 may terminate the trust if the trustee concludes after considering the purpose of the trust and the nature of the trust assets that the value of the trust property is insufficient to justify the continued cost of administration.(b)  On termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.(c)  A trustee may not exercise a power described by Subsection (a) if the trustee's possession of the power would cause the assets of the trust to be included in the trustee's estate for federal estate tax purposes.(d)  This section does not apply to an easement for conservation or preservation.|Added by Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 5, eff. September 1, 2007.|