Texas Probate Code - Section 860. Guardian's Investments In Real Estate
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Texas Laws > Probate Code > Texas Probate Code - Section 860. Guardian's Investments In Real Estate
Section: 854 855 855A 855B 856 857 858 860 861 862 863 865 865A 866 867
§ 860. GUARDIAN'S INVESTMENTS IN REAL ESTATE. (a) The
guardian of the estate may invest estate assets in real estate if:
(1) the guardian believes that the investment is in the best
interests of the ward;
(2) there are on hand sufficient additional assets to
provide a return sufficient to provide for:
(A) the education, support, and maintenance of the ward and
others the ward supports, if applicable; and
(B) the maintenance, insurance, and taxes on the real estate
in which the guardian wishes to invest;
(3) the guardian files a written application with the court
requesting a court order authorizing the guardian to make the
desired investment and stating the reasons why the guardian is of
the opinion that the investment would be for the benefit of the
(4) the court renders an order authorizing the investment as
provided by this section.
(b) When an application is filed by the guardian under this
section, the judge's attention shall be called to the application,
and the judge shall make investigation as necessary to obtain all
the facts concerning the investment. The judge may not render an
opinion or make an order on the application until 10 days from the
date of the filing of the application have expired. On the hearing
of the application, if the court is satisfied that the investment
benefits the ward, the court shall issue an order that authorizes
the guardian to make the investment. The order shall specify the
investment to be made and contain other directions the court thinks
(c) When a contract is made for the investment of money in
real estate under court order, the guardian shall report the
contract in writing to the courts. The court shall inquire fully
into the contract. If satisfied that the investment will benefit
the estate of the ward and that the title of the real estate is valid
and unencumbered, the court may approve the contract and authorize
the guardian to pay over the money in performance of the contract.
The guardian may not pay any money on the contract until the
contract is approved by court order to that effect.
(d) When the money of the ward has been invested in real
estate, the title to the real estate shall be made to the ward. The
guardian shall inventory, appraise, manage, and account for the
real estate as other real estate of the ward.
Added by Acts 1993, 73rd Leg., ch. 957, § 1, eff. Sept. 1, 1993.
Subsec. (a) amended by Acts 2003, 78th Leg., ch. 549, § 28, eff.
Sept. 1, 2003.
Last modified: August 11, 2007