reglab/housing_qa huggingface dataset:
TX Prop § 115.014 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 115 - Jurisdiction, Venue, and Proceedings|Subchapter B. Parties, Procedure, and Judgments|Section 115.014. Guardian or Attorney Ad Litem

Sec. 115.014.  GUARDIAN OR ATTORNEY AD LITEM.  (a)  At any point in a proceeding a court may appoint a guardian ad litem to represent the interest of a minor, an incapacitated, unborn, or unascertained person, or person whose identity or address is unknown, if the court determines that representation of the interest otherwise would be inadequate.  If there is not a conflict of interests, a guardian ad litem may be appointed to represent several persons or interests.(b)  At any point in a proceeding a court may appoint an attorney ad litem to represent any interest that the court considers necessary, including an attorney ad litem to defend an action under Section 114.083 for a beneficiary of the trust who is a minor or who has been adjudged incompetent.(c)  A guardian ad litem may consider general benefit accruing to the living members of a person's family.(d)  A guardian ad litem is entitled to reasonable compensation for services in the amount set by the court to be taxed as costs in the proceeding.(e)  An attorney ad litem is entitled to reasonable compensation for services in the amount set by the court in the manner provided by Section 114.064.|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. 24, eff. January 1, 2006.Acts 2009, 81st Leg., R.S., Ch. 672 (H.B. 2368), Sec. 5, eff. September 1, 2009.Acts 2009, 81st Leg., R.S., Ch. 672 (H.B. 2368), Sec. 6, eff. September 1, 2009.|
TX Prop § 115.015 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 115 - Jurisdiction, Venue, and Proceedings|Subchapter B. Parties, Procedure, and Judgments|Section 115.015. Notice to Beneficiaries of Tort or Contract Proceeding

Sec. 115.015.  NOTICE TO BENEFICIARIES OF TORT OR CONTRACT PROCEEDING.  (a)  A court may not render judgment in favor of a plaintiff in an action on a contract executed by the trustee or in an action against the trustee as representative of the trust for a tort committed in the course of the trustee's administration unless the plaintiff proves that before the 31st day after the date the action began or within any other period fixed by the court that is more than 30 days before the date of the judgment, the plaintiff gave notice of the existence and nature of the action to:(1)  each beneficiary known to the trustee who then had a present or contingent interest;  or(2)  in an action on a contract involving a charitable trust, the attorney general and any corporation that is a beneficiary or agency in the performance of the trust.(b)  The plaintiff shall give the notice required by Subsection (a) of this section by registered mail or by certified mail, return receipt requested, addressed to the party to be notified at the party's last known address.  The trustee shall give the plaintiff a list of the beneficiaries or persons having an interest in the trust estate and their addresses, if known to the trustee, before the 11th day after the date the plaintiff makes a written request for the information.(c)  The plaintiff satisfies the notice requirements of this section by notifying the persons on the list provided by the trustee.|Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 115.016 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 115 - Jurisdiction, Venue, and Proceedings|Subchapter B. Parties, Procedure, and Judgments|Section 115.016. Notice

Sec. 115.016.  NOTICE.  (a)  If notice of hearing on a motion or other proceeding is required, the notice may be given in the manner prescribed by law or the Texas Rules of Civil Procedure, or, alternatively, notice may be given to any party or to his attorney if the party has appeared by attorney or requested that notice be sent to his attorney.(b)  If the address or identity of a party is not known and cannot be ascertained with reasonable diligence, on order of the court notice may be given by publishing a copy of the notice at least three times in a newspaper having general circulation in the county where the hearing is to be held.  The first publication of the notice must be at least 10 days before the time set for the hearing.  If there is no newspaper of general circulation in the county where the hearing is to be held, the publication shall be made in a newspaper of general circulation in an adjoining county.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 115.017 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 115 - Jurisdiction, Venue, and Proceedings|Subchapter B. Parties, Procedure, and Judgments|Section 115.017. Waiver of Notice

Sec. 115.017.  WAIVER OF NOTICE.  A person, including a guardian of the estate, a guardian ad litem, or other fiduciary, may waive notice by a writing signed by the person or his attorney and filed in the proceedings.|Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.|
TX Prop § 116.001 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter A. Definitions, Fiduciary Duties, and Other Miscellaneous Provisions|Section 116.001. Short Title

Sec. 116.001.  SHORT TITLE.  This chapter may be cited as the Uniform Principal and Income Act.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.002 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter A. Definitions, Fiduciary Duties, and Other Miscellaneous Provisions|Section 116.002. Definitions

Sec. 116.002.  DEFINITIONS.  In this chapter:(1)  "Accounting period" means a calendar year unless another 12-month period is selected by a fiduciary.  The term includes a portion of a calendar year or other 12-month period that begins when an income interest begins or ends when an income interest ends.(2)  "Beneficiary" includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary.(3)  "Fiduciary" means a personal representative or a trustee.  The term includes an executor, administrator, successor personal representative, special administrator, and a person performing substantially the same function.(4)  "Income" means money or property that a fiduciary receives as current return from a principal asset.  The term includes a portion of receipts from a sale, exchange, or liquidation of a principal asset, to the extent provided in Subchapter D.(5)  "Income beneficiary" means a person to whom net income of a trust is or may be payable.(6)  "Income interest" means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.(7)  "Mandatory income interest" means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.(8)  "Net income" means the total receipts allocated to income during an accounting period minus the disbursements made from income during the period, plus or minus transfers under this chapter to or from income during the period.(9)  "Person" has the meaning assigned by Section 111.004.(10)  "Principal" means property held in trust for distribution to a remainder beneficiary when the trust terminates.(11)  "Remainder beneficiary" means a person entitled to receive principal when an income interest ends.(12)  "Terms of a trust" means the manifestation of the intent of a settlor or decedent with respect to the trust, expressed in a manner that admits of its proof in a judicial proceeding, whether by written or spoken words or by conduct.(13)  "Trustee" has the meaning assigned by Section 111.004.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.Amended by: Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 12, eff. September 1, 2007.|
TX Prop § 116.003 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter A. Definitions, Fiduciary Duties, and Other Miscellaneous Provisions|Section 116.003. Uniformity of Application and Construction

Sec. 116.003.  UNIFORMITY OF APPLICATION AND CONSTRUCTION.  In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.004 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter A. Definitions, Fiduciary Duties, and Other Miscellaneous Provisions|Section 116.004. Fiduciary Duties; General Principles

Sec. 116.004.  FIDUCIARY DUTIES;  GENERAL PRINCIPLES.  (a)  In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of Subchapters B and C, a fiduciary:(1)  shall administer a trust or estate in accordance with the terms of the trust or the will, even if there is a different provision in this chapter;(2)  may administer a trust or estate by the exercise of a discretionary power of administration given to the fiduciary by the terms of the trust or the will, even if the exercise of the power produces a result different from a result required or permitted by this chapter;(3)  shall administer a trust or estate in accordance with this chapter if the terms of the trust or the will do not contain a different provision or do not give the fiduciary a discretionary power of administration;  and(4)  shall add a receipt or charge a disbursement to principal to the extent that the terms of the trust and this chapter do not provide a rule for allocating the receipt or disbursement to or between principal and income.(b)  In exercising the power to adjust under Section 116.005(a) or a discretionary power of administration regarding a matter within the scope of this chapter, whether granted by the terms of a trust, a will, or this chapter, a fiduciary shall administer a trust or estate impartially, based on what is fair and reasonable to all of the beneficiaries, except to the extent that the terms of the trust or the will clearly manifest an intention that the fiduciary shall or may favor one or more of the beneficiaries.  A determination in accordance with this chapter is presumed to be fair and reasonable to all of the beneficiaries.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.052 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter B. Decedent's Estate or Terminating Income Interest|Section 116.052. Distribution to Residuary and Remainder Beneficiaries

Sec. 116.052.  DISTRIBUTION TO RESIDUARY AND REMAINDER BENEFICIARIES.  (a)  Each beneficiary described in Section 116.051(4) is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date.  If a fiduciary makes more than one distribution of assets to beneficiaries to whom this section applies, each beneficiary, including one who does not receive part of the distribution, is entitled, as of each distribution date, to the net income the fiduciary has received after the date of death or terminating event or earlier distribution date but has not distributed as of the current distribution date.(b)  In determining a beneficiary's share of net income, the following rules apply:(1)  The beneficiary is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in the undistributed principal assets immediately before the distribution date, including assets that later may be sold to meet principal obligations.(2)  The beneficiary's fractional interest in the undistributed principal assets must be calculated without regard to property specifically given to a beneficiary and property required to pay pecuniary amounts not in trust.(3)  The beneficiary's fractional interest in the undistributed principal assets must be calculated on the basis of the aggregate value of those assets as of the distribution date without reducing the value by any unpaid principal obligation.(4)  The distribution date for purposes of this section may be the date as of which the fiduciary calculates the value of the assets if that date is reasonably near the date on which assets are actually distributed.(c)  If a fiduciary does not distribute all of the collected but undistributed net income to each person as of a distribution date, the fiduciary shall maintain appropriate records showing the interest of each beneficiary in that net income.(d)  A fiduciary may apply the rules in this section, to the extent that the fiduciary considers it appropriate, to net gain or loss realized after the date of death or terminating event or earlier distribution date from the disposition of a principal asset if this section applies to the income from the asset.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.101 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter C. Apportionment at Beginning and End of Income Interest|Section 116.101. When Right to Income Begins and Ends

Sec. 116.101.  WHEN RIGHT TO INCOME BEGINS AND ENDS.  (a)  An income beneficiary is entitled to net income from the date on which the income interest begins.  An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to a trust or successive income interest.(b)  An asset becomes subject to a trust:(1)  on the date it is transferred to the trust in the case of an asset that is transferred to a trust during the transferor's life;(2)  on the date of a testator's death in the case of an asset that becomes subject to a trust by reason of a will, even if there is an intervening period of administration of the testator's estate;  or(3)  on the date of an individual's death in the case of an asset that is transferred to a fiduciary by a third party because of the individual's death.(c)  An asset becomes subject to a successive income interest on the day after the preceding income interest ends, as determined under Subsection (d), even if there is an intervening period of administration to wind up the preceding income interest.(d)  An income interest ends on the day before an income beneficiary dies or another terminating event occurs, or on the last day of a period during which there is no beneficiary to whom a trustee may distribute income. |Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.102 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter C. Apportionment at Beginning and End of Income Interest|Section 116.102. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins

Sec. 116.102.  APPORTIONMENT OF RECEIPTS AND DISBURSEMENTS WHEN DECEDENT DIES OR INCOME INTEREST BEGINS.  (a)  A trustee shall allocate an income receipt or disbursement other than one to which Section 116.051(1) applies to principal if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or successive income interest.(b)  A trustee shall allocate an income receipt or disbursement to income if its due date occurs on or after the date on which a decedent dies or an income interest begins and it is a periodic due date.  An income receipt or disbursement must be treated as accruing from day to day if its due date is not periodic or it has no due date.  The portion of the receipt or disbursement accruing before the date on which a decedent dies or an income interest begins must be allocated to principal and the balance must be allocated to income.(c)  An item of income or an obligation is due on the date the payer is required to make a payment.  If a payment date is not stated, there is no due date for the purposes of this chapter.  Distributions to shareholders or other owners from an entity to which Section 116.151 applies are deemed to be due on the date fixed by the entity for determining who is entitled to receive the distribution or, if no date is fixed, on the declaration date for the distribution.  A due date is periodic for receipts or disbursements that must be paid at regular intervals under a lease or an obligation to pay interest or if an entity customarily makes distributions at regular intervals.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.103 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter C. Apportionment at Beginning and End of Income Interest|Section 116.103. Apportionment When Income Interest Ends

Sec. 116.103.  APPORTIONMENT WHEN INCOME INTEREST ENDS.  (a)  In this section, "undistributed income" means net income received before the date on which an income interest ends.  The term does not include an item of income or expense that is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust.(b)  When a mandatory income interest ends, the trustee shall pay to a mandatory income beneficiary who survives that date, or the estate of a deceased mandatory income beneficiary whose death causes the interest to end, the beneficiary's share of the undistributed income that is not disposed of under the terms of the trust unless the beneficiary has an unqualified power to revoke more than five percent of the trust immediately before the income interest ends.  In the latter case, the undistributed income from the portion of the trust that may be revoked must be added to principal.(c)  When a trustee's obligation to pay a fixed annuity or a fixed fraction of the value of the trust's assets ends, the trustee shall prorate the final payment if and to the extent required by applicable law to accomplish a purpose of the trust or its settlor relating to income, gift, estate, or other tax requirements.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.|
TX Prop § 116.201 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter E. Allocation of Disbursements During Administration of Trust|Section 116.201. Disbursements From Income

Sec. 116.201.  DISBURSEMENTS FROM INCOME.  A trustee shall make the following disbursements from income to the extent that they are not disbursements to which Section 116.051(2)(B) or (C) applies:(1)  one-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee unless, consistent with the trustee's fiduciary duties, the trustee determines that a different portion, none, or all of the compensation should be allocated to income;(2)  one-half of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests;(3)  all of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; and(4)  recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1337 (S.B. 778), Sec. 2, eff. September 1, 2013.|
TX Prop § 116.202 (2021)
2021 Texas Statutes|Property Code|Title 9 - Trusts|Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts|Chapter 116 - Uniform Principal and Income Act|Subchapter E. Allocation of Disbursements During Administration of Trust|Section 116.202. Disbursements From Principal

Sec. 116.202.  DISBURSEMENTS FROM PRINCIPAL.  (a)  A trustee shall make the following disbursements from principal:(1)  the remaining one-half of the disbursements described in Section 116.201(1) unless, consistent with the trustee's fiduciary duties, the trustee determines that a different portion, none, or all of those disbursements should be allocated to income, in which case that portion of the disbursements that are not allocated to income shall be allocated to principal;(1-a)  the remaining one-half of the disbursements described in Section 116.201(2);(2)  all of the trustee's compensation calculated on principal as a fee for acceptance, distribution, or termination, and disbursements made to prepare property for sale;(3)  payments on the principal of a trust debt;(4)  expenses of a proceeding that concerns primarily principal, including a proceeding to construe the trust or to protect the trust or its property;(5)  premiums paid on a policy of insurance not described in Section 116.201(4) of which the trust is the owner and beneficiary;(6)  estate, inheritance, and other transfer taxes, including penalties, apportioned to the trust; and(7)  disbursements related to environmental matters, including reclamation, assessing environmental conditions, remedying and removing environmental contamination, monitoring remedial activities and the release of substances, preventing future releases of substances, collecting amounts from persons liable or potentially liable for the costs of those activities, penalties imposed under environmental laws or regulations and other payments made to comply with those laws or regulations, statutory or common law claims by third parties, and defending claims based on environmental matters.(b)  If a principal asset is encumbered with an obligation that requires income from that asset to be paid directly to the creditor, the trustee shall transfer from principal to income an amount equal to the income paid to the creditor in reduction of the principal balance of the obligation.|Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1337 (S.B. 778), Sec. 3, eff. September 1, 2013.|