Texas Estates Code 305.207 – Deposits by Personal Surety
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Terms Used In Texas Estates Code 305.207
- personal representative: include :
(1) an executor and independent executor;
(2) an administrator, independent administrator, and temporary administrator; and
(3) a successor to an executor or administrator listed in Subdivision (1) or (2). See Texas Estates Code 22.031 - Surety: includes a personal surety and a corporate surety. See Texas Estates Code 22.032
Instead of executing an affidavit under § 305.203 or creating a lien under § 305.204 when required, a personal surety may deposit the surety’s own cash or securities instead of pledging real property as security. The deposit:
(1) must be made in the same manner a personal representative deposits the representative’s own cash or securities; and
(2) is subject, to the extent applicable, to the provisions governing the same type of deposits made by personal representatives.