Texas Estates Code 1105.160 – Authorized Corporate or Personal Sureties
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(a) The surety on a bond of a guardian of an estate may be an authorized corporate or personal surety.
(b) A bond of a guardian of an estate with sureties who are individuals must have at least two sureties, each of whom must:
(1) execute an affidavit in the manner provided by Subchapter E; and
(2) own property in this state, excluding property exempt by law, that the judge is satisfied is sufficient to qualify the person as a surety as required by law.
Terms Used In Texas Estates Code 1105.160
- Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Judge: means the presiding judge of any court having original jurisdiction over probate proceedings, regardless of whether the court is:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise probate jurisdiction; or
(3) a district court exercising probate jurisdiction in a contested matter. See Texas Estates Code 22.019 - Person: includes a natural person and a corporation. See Texas Estates Code 22.027
- Property: means real and personal property. See Texas Government Code 311.005
- Surety: includes a personal surety and a corporate surety. See Texas Estates Code 22.032
(c) A bond with an authorized corporate surety is only required to have one surety, except as otherwise provided by law.