Sec. 551.003. PAYMENT OF PORTION THAT IS NOT IN MONEY. (a) The court's order under Section 551.001 must require the executor or administrator to:
(1) sell, on terms determined best by the court, the portion of a share subject to that section that is in property other than money; and
(2) on collection of the proceeds of the sale, pay the proceeds to the comptroller.
(b) Recovery of the proceeds of a sale under this section is governed by Subchapter B.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 267 (S.B. 1420), Sec. 1, eff. September 1, 2019.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle L - Payment of Estates Into Treasury
Chapter 551 - Payment of Certain Estates to State
Subchapter A. Payment of Certain Funds to State
Section 551.001. Payment of Certain Shares of Estate to State
Section 551.002. Payment of Portion That Is in Money
Section 551.003. Payment of Portion That Is Not in Money
Section 551.004. Compensation to Executor or Administrator