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Texas Statutes (Last Updated: January 4, 2014) |
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ESTATES CODE |
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Title 3. GUARDIANSHIP AND RELATED PROCEDURES |
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Subtitle E. ADMINISTRATION OF GUARDIANSHIP |
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Chapter 1151. RIGHTS, POWERS, AND DUTIES UNDER GUARDIANSHIP |
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Subchapter D. POSSESSION AND CARE OF WARD'S PROPERTY BY GUARDIAN OF THE ESTATE |
Sec. 1151.155. OPERATION OR RENTAL OF FARM, RANCH, FACTORY, OR OTHER BUSINESS
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(a) If the ward owns a farm, ranch, factory, or other business that is not required to be immediately sold for the payment of a debt or other lawful purpose, the guardian of the estate on order of the court shall, as it appears to be in the estate's best interests:
(1) continue to operate, or cause the continued operation of, the farm, ranch, factory, or other business; or
(2) rent the farm, ranch, factory, or other business.
(b) In deciding whether to issue an order under Subsection (a), the court:
(1) shall consider:
(A) the condition of the estate; and
(B) the necessity that may exist for the future sale of the property or business for the payment of a debt, claim, or other lawful expenditure; and
(2) may not extend the time of renting any of the property beyond what appears consistent with the maintenance and education of a ward or the settlement of the ward's estate.