Tex. Estates Code § 1151.155
This is the official text of Tex. Estates Code § 1151.155, part of Texas’s Estates Code — governs wills, probate, and estate administration.
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§ 1151.155. OPERATION OR RENTAL OF FARM, RANCH, FACTORY, OR OTHER BUSINESS.
Official statutory text
(a) If the ward owns a farm, ranch, factory, or other business that is not required to be immediately sold for the payment of a debt or other lawful purpose, the guardian of the estate on order of the court shall, as it appears to be in the estate's best interests:
(1) continue to operate, or cause the continued operation of, the farm, ranch, factory, or other business; or
(2) rent the farm, ranch, factory, or other business.
(b) In deciding whether to issue an order under Subsection (a), the court:
(1) shall consider:
(A) the condition of the estate; and
(B) the necessity that may exist for the future sale of the property or business for the payment of a debt, claim, or other lawful expenditure; and
(2) may not extend the time of renting any of the property beyond what appears consistent with the maintenance and education of a ward or the settlement of the ward's estate.
(1) continue to operate, or cause the continued operation of, the farm, ranch, factory, or other business; or
(2) rent the farm, ranch, factory, or other business.
(b) In deciding whether to issue an order under Subsection (a), the court:
(1) shall consider:
(A) the condition of the estate; and
(B) the necessity that may exist for the future sale of the property or business for the payment of a debt, claim, or other lawful expenditure; and
(2) may not extend the time of renting any of the property beyond what appears consistent with the maintenance and education of a ward or the settlement of the ward's estate.
Status: in_force · Read it on the official government site
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