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Texas Statutes (Last Updated: January 4, 2014) |
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PROBATE CODE |
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Chapter XIII. GUARDIANSHIP |
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Part 4. ADMINISTRATION OF GUARDIANSHIP |
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Subpart A. INVENTORY, APPRAISEMENT, AND LIST OF CLAIMS |
Sec. 729. INVENTORY AND APPRAISEMENT
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(a) Not later than the 30th day after the date the guardian of the estate qualifies as guardian, unless a longer time is granted by the court, the guardian of the estate shall file with the clerk of the court a verified, full, and detailed inventory, in one written instrument, of all the property of the ward that has come into the guardian's possession or knowledge. The inventory filed by the guardian under this section must include:
(1) all real property of the ward that is located in this state; and
(2) all personal property of the ward wherever located.
(b) The guardian shall set out in the inventory the guardian's appraisement of the fair market value of each item of the property on the date of the grant of letters of guardianship. If the court appoints an appraiser of the estate, the guardian shall determine the fair market value of each item of the inventory with the assistance of the appraiser and shall set out in the inventory the appraisement made by the appraiser.
(c) An inventory made under this section must specify:
(1) what portion of the property is separate property and what portion is community property; and
(2) if any of the property is owned in common with other persons, the interest owned by the ward.
(d) The inventory, when approved by the court and duly filed with the clerk of court, is for purposes of this chapter the inventory and appraisement of the estate referred to in this chapter.
(e) The court for good cause shown may require the filing of the inventory and appraisement at a time not later than the 30th day after the date of qualification of the guardian.