Sec. 112.008. CAPACITY OF TRUSTEE. (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 the power to act as a trustee in this state.
(b) Except as provided by Section 112.034, the fact that the person named as trustee is also a beneficiary does not disqualify the person from acting as trustee if he is otherwise qualified.
(c) The settlor of a trust may be the trustee of the trust.
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.
Structure Texas Statutes
Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts
Chapter 112 - Creation, Validity, Modification, and Termination of Trusts
Section 112.001. Methods of Creating Trust
Section 112.002. Intention to Create Trust
Section 112.003. Consideration
Section 112.004. Statute of Frauds
Section 112.005. Trust Property
Section 112.006. Additions to Trust Property
Section 112.007. Capacity of Settlor
Section 112.008. Capacity of Trustee
Section 112.009. Acceptance by Trustee
Section 112.010. Presumed Acceptance by Beneficiary; Disclaimer