reglab/housing_qa huggingface dataset:
TX Prop § 113.081 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter C. Resignation or Removal of Trustee, and Authority of Multiple and Successor Trustees|Section 113.081. Resignation of Trustee

Sec. 113.081.  RESIGNATION OF TRUSTEE.  (a)  A trustee may resign in accordance with the terms of the trust instrument, or a trustee may petition a court for permission to resign as trustee.(b)  The court may accept a trustee's resignation and discharge the trustee from the trust on the terms and conditions necessary to protect the rights of other interested persons.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 113.082 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter C. Resignation or Removal of Trustee, and Authority of Multiple and Successor Trustees|Section 113.082. Removal of Trustee

Sec. 113.082.  REMOVAL OF TRUSTEE.  (a)  A trustee may be removed in accordance with the terms of the trust instrument, or, on the petition of an interested person and after hearing, a court may, in its discretion, remove a trustee and deny part or all of the trustee's compensation if:(1)  the trustee materially violated or attempted to violate the terms of the trust and the violation or attempted violation results in a material financial loss to the trust;(2)  the trustee becomes incapacitated or insolvent;(3)  the trustee fails to make an accounting that is required by law or by the terms of the trust; or(4)  the court finds other cause for removal.(b)  A beneficiary, cotrustee, or successor trustee may treat a violation resulting in removal as a breach of trust.(c)  A trustee of a charitable trust may not be removed solely on the grounds that the trustee exercised the trustee's power to adjust between principal and income under Section 113.0211.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.  Amended by Acts 2003, 78th Leg., ch. 550, Sec. 2, eff. Sept. 1, 2003.Amended by: Acts 2005, 79th Leg., Ch. 148 (H.B. 1190), Sec. 16, eff. January 1, 2006.|
TX Prop § 113.083 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter C. Resignation or Removal of Trustee, and Authority of Multiple and Successor Trustees|Section 113.083. Appointment of Successor Trustee

Sec. 113.083.  APPOINTMENT OF SUCCESSOR TRUSTEE.  (a)  On the death, resignation, incapacity, or removal of a sole or surviving trustee, a successor trustee shall be selected according to the method, if any, prescribed in the trust instrument.  If for any reason a successor is not selected under the terms of the trust instrument, a court may and on petition of any interested person shall appoint a successor in whom the trust shall vest.(b)  If a vacancy occurs in the number of trustees originally appointed under a valid charitable trust agreement and the trust agreement does not provide for filling the vacancy, the remaining trustees may fill the vacancy by majority vote.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 113.084 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter C. Resignation or Removal of Trustee, and Authority of Multiple and Successor Trustees|Section 113.084. Powers of Successor Trustee

Sec. 113.084.  POWERS OF SUCCESSOR TRUSTEE.  Unless otherwise provided in the trust instrument or by order of the court appointing a successor trustee, the successor trustee has the rights, powers, authority, discretion, and title to trust property conferred on the trustee.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 113.085 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter C. Resignation or Removal of Trustee, and Authority of Multiple and Successor Trustees|Section 113.085. Exercise of Powers by Multiple Trustees

Sec. 113.085.  EXERCISE OF POWERS BY MULTIPLE TRUSTEES.  (a)  Cotrustees may act by majority decision.(b)  If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.(c)  A cotrustee shall participate in the performance of a trustee's function unless the cotrustee:(1)  is unavailable to perform the function because of absence, illness, suspension under this code or other law, disqualification, if any, under this code, disqualification under other law, or other temporary incapacity; or(2)  has delegated the performance of the function to another trustee in accordance with the terms of the trust or applicable law, has communicated the delegation to all other cotrustees, and has filed the delegation in the records of the trust.(d)  If a cotrustee is unavailable to participate in the performance of a trustee's function for a reason described by Subsection (c)(1) and prompt action is necessary to achieve the efficient administration or purposes of the trust or to avoid injury to the trust property or a beneficiary, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.(e)  A trustee may delegate to a cotrustee the performance of a trustee's function unless the settlor specifically directs that the function be performed jointly.  Unless a cotrustee's delegation under this subsection is irrevocable, the cotrustee making the delegation may revoke the delegation. |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. 17, eff. January 1, 2006.Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 7, eff. September 1, 2007.Acts 2009, 81st Leg., R.S., Ch. 973 (H.B. 3635), Sec. 1, eff. September 1, 2009.|
TX Prop § 113.151 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter E. Accounting by Trustee|Section 113.151. Demand for Accounting

Sec. 113.151.  DEMAND FOR ACCOUNTING.  (a)  A beneficiary by written demand may request the trustee to deliver to each beneficiary of the trust a written statement of accounts covering all transactions since the last accounting or since the creation of the trust, whichever is later.  If the trustee fails or refuses to deliver the statement on or before the 90th day after the date the trustee receives the demand or after a longer period ordered by a court, any beneficiary of the trust may file suit to compel the trustee to deliver the statement to all beneficiaries of the trust.  The court may require the trustee to deliver a written statement of account to all beneficiaries on finding that the nature of the beneficiary's interest in the trust or the effect of the administration of the trust on the beneficiary's interest is sufficient to require an accounting by the trustee.  However, the trustee is not obligated or required to account to the beneficiaries of a trust more frequently than once every 12 months unless a more frequent accounting is required by the court.  If a beneficiary is successful in the suit to compel a statement under this section, the court may, in its discretion, award all or part of the costs of court and all of the suing beneficiary's reasonable and necessary attorney's fees and costs against the trustee in the trustee's individual capacity or in the trustee's capacity as trustee.(b)  An interested person may file suit to compel the trustee to account to the interested person.  The court may require the trustee to deliver a written statement of account to the interested person on finding that the nature of the interest in the trust of, the claim against the trust by, or the effect of the administration of the trust on the interested person is sufficient to require an accounting by the trustee.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.  Amended by Acts 2003, 78th Leg., ch. 550, Sec. 3, eff. Sept. 1, 2003.|
TX Prop § 113.152 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter E. Accounting by Trustee|Section 113.152. Contents of Accounting

Sec. 113.152.  CONTENTS OF ACCOUNTING.  A written statement of accounts shall show:(1)  all trust property that has come to the trustee's knowledge or into the trustee's possession and that has not been previously listed or inventoried as property of the trust;(2)  a complete account of receipts, disbursements, and other transactions regarding the trust property for the period covered by the account, including their source and nature, with receipts of principal and income shown separately;(3)  a listing of all property being administered, with an adequate description of each asset;(4)  the cash balance on hand and the name and location of the depository where the balance is kept;  and(5)  all known liabilities owed by the trust.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 113.171 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter F. Common Trust Funds|Section 113.171. Common Trust Funds

Sec. 113.171.  COMMON TRUST FUNDS.  (a)  A bank or trust company qualified to act as a fiduciary in this state may establish common trust funds to provide investments to itself as a fiduciary, including as a custodian under the Texas Uniform Transfers to Minors Act (Chapter 141) or a uniform gifts or transfers to minors act of another state or to itself and others as cofiduciaries.(b)  The fiduciary or cofiduciary may place investment funds in interests in common trust funds if:(1)  the investment is not prohibited by the instrument or order creating the fiduciary relationship;  and(2)  if there are cofiduciaries, the cofiduciaries consent to the investment.(c)  A common trust fund includes a fund:(1)  qualified for exemption from federal income taxation as a common trust fund and maintained exclusively for eligible fiduciary accounts;  and(2)  consisting solely of assets of retirement, pension, profit sharing, stock bonus, or other employees' trusts that are exempt from federal income taxation.|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. 18, eff. January 1, 2006.|
TX Prop § 113.172 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 113 - Administration|Subchapter F. Common Trust Funds|Section 113.172. Affiliated Institutions

Sec. 113.172.  AFFILIATED INSTITUTIONS.  A bank or trust company that is a member of an affiliated group under Section 1504, Internal Revenue Code of 1954 (26 U.S.C. 1504), with a bank or trust company maintaining common trust funds may participate in one or more of the funds.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 114.001 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.001. Liability of Trustee to Beneficiary

Sec. 114.001.  LIABILITY OF TRUSTEE TO BENEFICIARY.  (a)  The trustee is accountable to a beneficiary for the trust property and for any profit made by the trustee through or arising out of the administration of the trust, even though the profit does not result from a breach of trust;  provided, however, that the trustee is not required to return to a beneficiary the trustee's compensation as provided by this subtitle, by the terms of the trust instrument, or by a writing delivered to the trustee and signed by all beneficiaries of the trust who have full legal capacity.(b)  The trustee is not liable to the beneficiary for a loss or depreciation in value of the trust property or for a failure to make a profit that does not result from a failure to perform the duties set forth in this subtitle or from any other breach of trust.(c)  A trustee who commits a breach of trust is chargeable with any damages resulting from such breach of trust, including but not limited to:(1)  any loss or depreciation in value of the trust estate as a result of the breach of trust;(2)  any profit made by the trustee through the breach of trust;  or(3)  any profit that would have accrued to the trust estate if there had been no breach of trust.(d)  The trustee is not liable to the beneficiary for a loss or depreciation in value of the trust property or for acting or failing to act under Section 113.025 or under any other provision of this subtitle if the action or failure to act relates to compliance with an environmental law and if there is no gross negligence or bad faith on the part of the trustee.  The provision of any instrument governing trustee liability does not increase the liability of the trustee as provided by this section unless the settlor expressly makes reference to this subsection.(e)  The trustee has the same protection from liability provided for a fiduciary under 42 U.S.C. Section 9607(n).|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. 13, eff. Oct. 2, 1984;  Acts 1989, 71st Leg., ch. 341, Sec. 2, eff. Aug. 28, 1989;  Acts 1993, 73rd Leg., ch. 846, Sec. 30, eff. Sept. 1, 1993;  Acts 1997, 75th Leg., ch. 263, Sec. 1, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 1103, Sec. 8, eff. Jan. 1, 2004.|
TX Prop § 114.002 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.002. Liability of Successor Trustee for Breach of Trust by Predecessor

Sec. 114.002.  LIABILITY OF SUCCESSOR TRUSTEE FOR BREACH OF TRUST BY PREDECESSOR.  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.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 114.003 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.003. Powers to Direct: Charitable Trusts

Sec. 114.003.  POWERS TO DIRECT: CHARITABLE TRUSTS.  (a) In this section, "charitable trust" has the meaning assigned by Section 123.001.(a-1)  The terms of a charitable trust may give a trustee or other person a power to direct the modification or termination of the trust.(b)  If the terms of a charitable trust give a person the power to direct certain actions of the trustee, the trustee shall act in accordance with the person's direction unless:(1)  the direction is manifestly contrary to the terms of the trust; or(2)  the trustee knows the direction would constitute a serious breach of a fiduciary duty that the person holding the power to direct owes to the beneficiaries of the trust.(c)  A person, other than a beneficiary, who holds a power to direct with respect to a charitable trust is presumptively a fiduciary required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries.  The holder of a power to direct with respect to a charitable trust is liable for any loss that results from a breach of the person's fiduciary duty.|Amended 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. 19, eff. January 1, 2006.Acts 2015, 84th Leg., R.S., Ch. 1108 (H.B. 3190), Sec. 1, eff. June 19, 2015.|
TX Prop § 114.004 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.004. Actions Taken Prior to Knowledge or Notice of Facts

Sec. 114.004.  ACTIONS TAKEN PRIOR TO KNOWLEDGE OR NOTICE OF FACTS.  A trustee is not liable for a mistake of fact made before the trustee has actual knowledge or receives written notice of the happening of any event that determines or affects the distribution of the income or principal of the trust, including marriage, divorce, attainment of a certain age, performance of education requirements, or death.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 114.005 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.005. Release of Liability by Beneficiary

Sec. 114.005.  RELEASE OF LIABILITY BY BENEFICIARY.  (a)  A beneficiary who has full legal capacity and is acting on full information may relieve a trustee from any duty, responsibility, restriction, or liability as to the beneficiary that would otherwise be imposed on the trustee by this subtitle, including liability for past violations.(b)  The release must be in writing and delivered to the trustee.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.Amended by: Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 8, eff. September 1, 2007.|
TX Prop § 114.006 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.006. Liability of Cotrustees for Acts of Other Cotrustees

Sec. 114.006.  LIABILITY OF COTRUSTEES FOR ACTS OF OTHER COTRUSTEES.  (a)  A trustee who does not join in an action of a cotrustee is not liable for the cotrustee's action, unless the trustee does not exercise reasonable care as provided by Subsection (b).(b)  Each trustee shall exercise reasonable care to:(1)  prevent a cotrustee from committing a serious breach of trust; and(2)  compel a cotrustee to redress a serious breach of trust.(c)  Subject to Subsection (b), a dissenting trustee who joins in an action at the direction of the majority of the trustees and who has notified any cotrustee of the dissent in writing at or before the time of the action is not liable for the action. |Amended 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. 20, eff. January 1, 2006.|
TX Prop § 114.007 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.007. Exculpation of Trustee

Sec. 114.007.  EXCULPATION OF TRUSTEE.  (a)  A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term relieves a trustee of liability for:(1)  a breach of trust committed:(A)  in bad faith;(B)  intentionally; or(C)  with reckless indifference to the interest of a beneficiary; or(2)  any profit derived by the trustee from a breach of trust.(b)  A term in a trust instrument relieving the trustee of liability for a breach of trust is ineffective to the extent that the term is inserted in the trust instrument as a result of an abuse by the trustee of a fiduciary duty to or confidential relationship with the settlor.(c)  This section applies only to a term of a trust that may otherwise relieve a trustee from liability for a breach of trust.  Except as provided in Section 111.0035, this section does not prohibit the settlor, by the terms of the trust, from expressly:(1)  relieving the trustee from a duty or restriction imposed by this subtitle or by common law; or(2)  directing or permitting the trustee to do or not to do an action that would otherwise violate a duty or restriction imposed by this subtitle or by common law.|Added by Acts 2005, 79th Leg., Ch. 148 (H.B. 1190), Sec. 21, eff. January 1, 2006.|
TX Prop § 114.008 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons|Subchapter A. Liability of Trustee|Section 114.008. Remedies for Breach of Trust

Sec. 114.008.  REMEDIES FOR BREACH OF TRUST.  (a)  To remedy a breach of trust that has occurred or might occur, the court may:(1)  compel the trustee to perform the trustee's duty or duties;(2)  enjoin the trustee from committing a breach of trust;(3)  compel the trustee to redress a breach of trust, including compelling the trustee to pay money or to restore property;(4)  order a trustee to account;(5)  appoint a receiver to take possession of the trust property and administer the trust;(6)  suspend the trustee;(7)  remove the trustee as provided under Section 113.082;(8)  reduce or deny compensation to the trustee;(9)  subject to Subsection (b), void an act of the trustee, impose a lien or a constructive trust on trust property, or trace trust property of which the trustee wrongfully disposed and recover the property or the proceeds from the property; or(10)  order any other appropriate relief.(b)  Notwithstanding Subsection (a)(9), a person other than a beneficiary who, without knowledge that a trustee is exceeding or improperly exercising the trustee's powers, in good faith assists a trustee or in good faith and for value deals with a trustee is protected from liability as if the trustee had or properly exercised the power exercised by the trustee.|Added by Acts 2005, 79th Leg., Ch. 148 (H.B. 1190), Sec. 21, eff. January 1, 2006.|