Sec. 1161.053. APPLICABILITY OF PROCEDURE TO CERTAIN ASSETS. The fact that an account or other asset is the subject of a specific or general gift under a ward's will, if any, or that a ward has funds, securities, or other property held with a right of survivorship does not prevent:
(1) the guardian of the estate from taking possession and control of the asset or closing the account; or
(2) the court from authorizing an action or modifying or eliminating a duty with respect to the possession, control, or investment of the account or other asset.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Structure Texas Statutes
Title 3 - Guardianship and Related Procedures
Subtitle E - Administration of Guardianship
Chapter 1161 - Investments and Loans of Estates of Wards
Subchapter B. Procedure for Making Investments or Loans or Retaining Estate Assets
Section 1161.051. Procedure in General
Section 1161.052. Court Action
Section 1161.053. Applicability of Procedure to Certain Assets
Section 1161.054. Inapplicability of Procedure to Certain Assets