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Texas Property Code - Chapter 112 Creation, Validity, Modification, And Termination Of TrustsLegal Research Home > Texas Lawyer > Property Code > Texas Property Code - Chapter 112 Creation, Validity, Modification, And Termination Of Trusts Sponsored LinksA trust may be created by: (1) a property owner's declaration that the owner holds the property as trustee for another person; (2) a property ... A trust is created only if the settlor manifests an intention to create a trust. Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, ... Consideration is not required for the creation of a trust. A promise to create a trust in the future is enforceable only if the requirements ... A trust in either real or personal property is enforceable only if there is written evidence of the trust's terms bearing the signature of the ... A trust cannot be created unless there is trust property. Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, § 2, eff. ... Property may be added to an existing trust from any source in any manner unless the addition is prohibited by the terms of the trust ... A person has the same capacity to create a trust by declaration, inter vivos or testamentary transfer, or appointment that the person has to transfer, ... (a) The trustee must have the legal capacity to take, hold, and transfer the trust property. If the trustee is a corporation, it must have ... Text of subsec. (a) effective until January 1, 2006 (a) The signature of the person named as trustee on the writing evidencing the trust ... (a) Acceptance by a beneficiary of an interest in a trust is presumed. (b) If a trust is created by will, a beneficiary may disclaim ... A trust may be created for any purpose that is not illegal. The terms of the trust may not require the trustee to commit a ... (a) Except as provided by Subsection (b), title to real property held in trust vests directly in the beneficiary if the trustee has neither a ... If during the life of the settlor an interest in a trust or the trust property is created in a beneficiary other than the settlor, ... (a) If a settlor transfers both the legal title and all equitable interests in property to the same person or retains both the legal title ... (a) A settlor may provide in the terms of the trust that the interest of a beneficiary in the income or in the principal or ... The rule against perpetuities applies to trusts other than charitable trusts. Accordingly, an interest is not good unless it must vest, if at all, not ... (a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates on the death ... (a) A settlor may revoke the trust unless it is irrevocable by the express terms of the instrument creating it or of an instrument modifying ... A trust terminates if by its terms the trust is to continue only until the expiration of a certain period or until the happening of ... The settlor may provide in the trust instrument how property may or may not be disposed of in the event of failure, termination, or revocation ... (a) On the petition of a trustee or a beneficiary, a court may order that the trustee be changed, that the terms of the trust ... (a) Except as provided by Section 112.056 and Subsection (b) of this section, the governing instrument of a trust that is a private foundation under ... (a) If the settlor of a trust that is described under Subsection (a) of Section 112.055 of this Act is living and competent and consents, ... Text of subsec. (a) intro. paragraph effective until January 1, 2006 (a) The trustee may, unless expressly prohibited by the terms of the instrument ... (a) In this section: (1) "Assets" means the assets of the component trust funds of a community trust. (2) "Community trust" means a community trust ... Last modified: August 11, 2007 |