Terms Used In Texas Estates Code Chapter 352 > Subchapter A - Compensation of Personal Representatives

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• 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
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Heir: means a person who is entitled under the statutes of descent and distribution to a part of the estate of a decedent who dies intestate. See Texas Estates Code 22.015
• Intestate: Dying without leaving a will.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Legatee: includes a person who is entitled to a legacy under a will. See Texas Estates Code 22.021
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
• 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
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
• Testator: A male person who leaves a will at death.
• Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005