Sec. 112.0715. CREATION OF SECOND TRUST. (a) A second trust may be created by a distribution of principal under Section 112.072 or 112.073 to a trust created under the same trust instrument as the first trust from which the principal is distributed or to a trust created under a different trust instrument.
(b) If a second trust is created by a distribution of principal under Section 112.072 or 112.073 to a trust created under the same trust instrument as the first trust from which the principal is distributed, the property is not required to be retitled.
(c) The legislature intends this section to be a codification of the common law of this state in effect immediately before September 1, 2019.
Added by Acts 2019, 86th Leg., R.S., Ch. 1112 (H.B. 2245), Sec. 4, eff. September 1, 2019.
Structure Texas Statutes
Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts
Chapter 112 - Creation, Validity, Modification, and Termination of Trusts
Subchapter D. Distribution of Trust Principal in Further Trust
Section 112.0715. Creation of Second Trust
Section 112.072. Distribution to Second Trust: Trustee With Full Discretion
Section 112.073. Distribution to Second Trust: Trustee With Limited Discretion
Section 112.074. Notice Required
Section 112.075. Written Instrument Required
Section 112.076. Reference to Trust Terms
Section 112.077. Settlor of Second Trust
Section 112.078. Court-Ordered Distribution
Section 112.079. Divided Discretion
Section 112.080. Later Discovered Assets
Section 112.081. Other Authority to Distribute in Further Trust Not Limited
Section 112.082. Need for Distribution Not Required
Section 112.083. Duties Not Created
Section 112.084. Certain Distributions Prohibited
Section 112.085. Exceptions to Power of Distribution