Sec. 112.052. TERMINATION. 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 a certain event and the period of time has elapsed or the event has occurred. If an event of termination occurs, the trustee may continue to exercise the powers of the trustee for the reasonable period of time required to wind up the affairs of the trust and to make distribution of its assets to the appropriate beneficiaries. The continued exercise of the trustee's powers after an event of termination does not affect the vested rights of beneficiaries of the trust.
Amended 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
Subchapter C. Revocation, Modification, and Termination of Trusts
Section 112.051. Revocation, Modification, or Amendment by Settlor
Section 112.053. Disposition of Trust Property on Failure of Trust
Section 112.054. Judicial Modification, Reformation, or Termination of Trusts
Section 112.056. Permissive Amendment by Trustee of Charitable Trust
Section 112.057. Division and Combination of Trusts
Section 112.058. Conversion of Community Trust to Nonprofit Corporation