Sec. 114.005. RELEASE OF LIABILITY BY BENEFICIARY. (a) A beneficiary who has full legal capacity and is acting on full information may relieve a trustee from any duty, responsibility, restriction, or liability as to the beneficiary that would otherwise be imposed on the trustee by this subtitle, including liability for past violations.
(b) The release must be in writing and delivered to the trustee.
Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 8, eff. September 1, 2007.
Structure Texas Statutes
Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts
Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons
Subchapter A. Liability of Trustee
Section 114.001. Liability of Trustee to Beneficiary
Section 114.002. Liability of Successor Trustee for Breach of Trust by Predecessor
Section 114.003. Powers to Direct: Charitable Trusts
Section 114.0031. Directed Trusts; Advisors
Section 114.004. Actions Taken Prior to Knowledge or Notice of Facts
Section 114.005. Release of Liability by Beneficiary
Section 114.006. Liability of Cotrustees for Acts of Other Cotrustees