Tex. Property Code § 112.123
This is the official text of Tex. Property Code § 112.123, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 112.123. APPLICATION OR DISTRIBUTION OF TRUST PROPERTY.
Official statutory text
(a) Property of a trust created under this subchapter may be applied only to the intended purpose of the trust, except to the extent that a court finds that the value of the trust property exceeds the amount required for the intended purpose of the trust.
(b) Except as provided by the terms of the trust, property found by a court not to be required for the trust's intended purpose shall be distributed:
(1) as provided by the terms of the trust; or
(2) if the trust does not provide for the distribution of such property, to the settlor if then living or to the settlor's successors in interest.
(b) Except as provided by the terms of the trust, property found by a court not to be required for the trust's intended purpose shall be distributed:
(1) as provided by the terms of the trust; or
(2) if the trust does not provide for the distribution of such property, to the settlor if then living or to the settlor's successors in interest.
Status: in_force · Read it on the official government site
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