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Texas Statutes (Last Updated: January 4, 2014) |
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ESTATES CODE |
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Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY |
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Subtitle H. CONTINUATION OF ADMINISTRATION |
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Chapter 356. SALE OF ESTATE PROPERTY |
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Subchapter B. CERTAIN ESTATE PROPERTY REQUIRED TO BE SOLD |
Sec. 356.051. SALE OF CERTAIN PERSONAL PROPERTY REQUIRED
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(a) After approval of the inventory, appraisement, and list of claims, the personal representative of an estate promptly shall apply for a court order to sell, at public auction or privately, for cash or on credit for a term not to exceed six months, all estate property that is liable to perish, waste, or deteriorate in value, or that will be an expense or disadvantage to the estate if kept.
(b) The following may not be included in a sale under Subsection (a):
(1) property exempt from forced sale;
(2) property that is the subject of a specific legacy; and
(3) personal property necessary to carry on a farm, ranch, factory, or other business that is thought best to operate.
(c) In determining whether to order the sale of an asset under Subsection (a), the court shall consider:
(1) the personal representative's duty to take care of and manage the estate in the manner a person of ordinary prudence, discretion, and intelligence would manage the person's own affairs; and
(2) whether the asset constitutes an asset that a trustee is authorized to invest under Subchapter F, Chapter 113, Property Code, or Chapter 117, Property Code.