§ 456.001 Definition
§ 456.002 Authority to Designate Lawyer On Certain Trust or Escrow Accounts
§ 456.003 Duty of Eligible Institutions
§ 456.004 Liability of Eligible Institutions
§ 456.0045 Private Cause of Action
§ 456.005 Rules
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Terms Used In Texas Estates Code Chapter 456 - Disbursement and Closing of Lawyer Trust or Escrow Accounts

  • 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
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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.
  • in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
  • Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
  • Person: includes a natural person and a corporation. See Texas Estates Code 22.027
  • 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
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Venue: The geographical location in which a case is tried.
  • Victim Impact Statement: A written or spoken statement by the victim or his or her representative about the physical, emotional, and financial impact of a crime on the victim. The statement is given to the court before sentencing.