Texas Occupations Code 1101.551 – Definitions
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Terms Used In Texas Occupations Code 1101.551
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Executor: A male person named in a will to carry out the decedent
- 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.
- Trustee: A person or institution holding and administering property in trust.
In this subchapter:
(1) “Intermediary” means a broker who is employed to negotiate a transaction between the parties to a transaction and for that purpose may act as an agent of the parties.
(2) “Party” means a prospective buyer, seller, landlord, or tenant or an authorized representative of a buyer, seller, landlord, or tenant, including a trustee, guardian, executor, administrator, receiver, or attorney-in-fact. The term does not include a license holder who represents a party.