Texas Estates Code 1151.202 – Application; Order
Current as of: 2024 | Check for updates
|
Other versions
(a) The guardian of the estate must file a sworn application with the court for authority to:
(1) borrow money for a purpose authorized by § 1151.201(a) or (b); or
(2) create or extend a lien on estate property as security.
(b) The application must state fully and in detail the circumstances that the guardian of the estate believes make the granting of the authority necessary.
Terms Used In Texas Estates Code 1151.202
- Court: means and includes:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise original probate jurisdiction; and
(3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007 - 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 - Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- lien: include :
(1) a deed of trust;
(2) a vendor's lien, a mechanic's, materialman's, or laborer's lien, an attachment or garnishment lien, and a federal or state tax lien;
(3) a chattel mortgage;
(4) a judgment; and
(5) a pledge by hypothecation. See Texas Estates Code 22.024 - Property: means real and personal property. See Texas Government Code 311.005
- sworn: includes affirm or affirmed. See Texas Government Code 312.011
- Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033
(c) On the filing of an application under Subsection (a), the clerk shall issue and have posted a citation to all interested persons stating the nature of the application and requiring the interested persons to appear and show cause why the application should not be granted.
(d) If the court is satisfied by the evidence presented at the hearing on an application filed under Subsection (a) that it is in the interest of the ward or the ward’s estate to borrow money or to extend and renew an existing lien, the court shall issue an order to that effect, setting out the terms of the authority granted.
(e) If a new lien is created on guardianship estate property, the court may require, for the protection of the guardianship estate and the estate’s creditors, that the guardian’s general bond be increased or an additional bond be given, as for the sale of real property belonging to the estate.