Texas Property Code 141.017 – Exemption of Third Person From Liability
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Terms Used In Texas Property Code 141.017
- 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
- Property: means real and personal property. See Texas Government Code 311.005
A third person, in good faith and without court order, may act on the instructions of or otherwise deal with any person purporting to make a transfer or act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining the:
(1) validity of the purported custodian’s designation;
(2) propriety of, or the authority under this chapter for, any act of the purported custodian;
(3) validity or propriety under this chapter of any instrument or instructions executed or given by the person purporting to make a transfer or by the purported custodian; or
(4) propriety of the application of the minor’s property delivered to the purported custodian.