Sec. 113.011. LEASES. (a) A trustee may grant or take a lease of real or personal property for any term, with or without options to purchase and with or without covenants relating to erection of buildings or renewals, including the lease of a right or privilege above or below the surface of real property.
(b) A trustee may execute a lease containing terms or options that extend beyond the duration 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
Subchapter A. Powers of Trustee
Section 113.001. Limitation of Powers
Section 113.002. General Powers
Section 113.004. Additions to Trust Assets
Section 113.005. Acquisition of Undivided Interests
Section 113.006. General Authority to Manage and Invest Trust Property
Section 113.007. Temporary Deposits of Funds
Section 113.008. Business Entities
Section 113.009. Real Property Management
Section 113.010. Sale of Property
Section 113.014. Payment of Taxes
Section 113.015. Authority to Borrow
Section 113.016. Management of Securities
Section 113.017. Corporate Stock or Other Securities Held in Name of Nominee
Section 113.018. Employment and Appointment of Agents
Section 113.020. Burdensome or Worthless Property
Section 113.021. Distribution to Minor or Incapacitated Beneficiary
Section 113.0211. Adjustment of Charitable Trust
Section 113.022. Power to Provide Residence and Pay Funeral Expenses
Section 113.023. Ancillary Trustee
Section 113.024. Implied Powers
Section 113.025. Powers of Trustee Regarding Environmental Laws
Section 113.026. Authority to Designate New Charitable Beneficiary
Section 113.027. Distributions Generally
Section 113.028. Certain Claims and Causes of Action Prohibited
Section 113.029. Discretionary Powers; Tax Savings
Section 113.030. Relocation of Administration of Charitable Trust