Sec. 1161.153. COURT APPROVAL OF CONTRACTS REQUIRED. (a) If a contract is made for the investment of money in real estate under a court order, the guardian of the estate shall report the contract in writing to the court.
(b) The court shall inquire fully into the contract. If satisfied that the investment will benefit the ward's estate and that the title of the real estate is valid and unencumbered, the court may approve the contract and authorize the guardian to pay money in performance of the contract.
(c) The guardian may not pay any money on the contract until the contract is approved by a court order to that effect.
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 D. Investments in Real Estate
Section 1161.151. Authority to Invest in Real Estate; Procedure and Requirements