 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
PROBATE CODE |
|
Chapter XIII. GUARDIANSHIP |
|
Part 5. SPECIAL PROCEEDINGS AND ORDERS |
|
Subpart F. SALE OF PROPERTY OF MINORS AND CERTAIN WARDS |
Sec. 889. SALE OF PROPERTY OF A MINOR BY A PARENT WITHOUT GUARDIANSHIP
-
(a) When a minor has an interest in real or personal property and the net value of the interest does not exceed $100,000, a natural or adoptive parent, or the managing conservator, of a minor who is not a ward may apply to the court for an order to sell the minor's interest in the property without being appointed guardian. A minor may not disaffirm a sale of property pursuant to a court order under this section.
(b) The parent shall apply to the court under oath for the sale of the property. Venue for the application under this section is the same as venue for an application for the appointment of a guardian for a minor. The application must contain:
(1) a legal description of the real property and a description that identifies the personal property;
(2) the name of the minor and the minor's interest in the property;
(3) the name of the purchaser;
(4) a statement that the sale of the minor's interest in the property is for cash; and
(5) a statement that all funds received by the parent shall be used for the use and benefit of the minor.
(c) On receipt of the application, the court shall set the application for hearing at a date not earlier than five days from the date of the filing of the application. If the court deems it necessary, the court may cause citation to be issued.
(d) At the time of the hearing of the application filed under this section, the court shall order the sale of the property if the court is satisfied from the evidence that the sale is in the best interests of the minor. The court may require an independent appraisal of the property to be sold to establish the minimum sale price.
(e) When the court enters the order of sale, the purchaser of the property shall pay the proceeds of the sale belonging to the minor into the court registry.
(f) Nothing in this section prevents the proceeds deposited in the registry from being withdrawn from the court registry under Section 887 of this code.