Tex. Property Code § 141.007
This is the official text of Tex. Property Code § 141.007, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 141.007. OTHER TRANSFER BY FIDUCIARY.
Official statutory text
(a) Subject to Subsections (b) and (c), a guardian, legal representative, or trustee may make an irrevocable transfer to another adult or trust company as custodian for a minor's benefit under Section 141.010 in the absence of a will or under a will or trust that does not contain an authorization to do so.
(b) With the approval of the court supervising the guardianship, a guardian may make an irrevocable transfer to another adult or trust company as custodian for the minor's benefit under Section 141.010.
(c) A transfer under Subsection (a) or (b) may be made only if:
(1) the legal representative or trustee considers the transfer to be in the best interest of the minor;
(2) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and
(3) the transfer is authorized by the court if it exceeds $25,000 in value.
(b) With the approval of the court supervising the guardianship, a guardian may make an irrevocable transfer to another adult or trust company as custodian for the minor's benefit under Section 141.010.
(c) A transfer under Subsection (a) or (b) may be made only if:
(1) the legal representative or trustee considers the transfer to be in the best interest of the minor;
(2) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and
(3) the transfer is authorized by the court if it exceeds $25,000 in value.
Status: in_force · Read it on the official government site
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