Texas Statutes (Last Updated: January 4, 2014) |
PROPERTY CODE |
Title 9. TRUSTS |
Subtitle B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS |
Chapter 114. LIABILITIES, RIGHTS, AND REMEDIES OF TRUSTEES, BENEFICIARIES, AND THIRD PERSONS |
Subchapter D. THIRD PERSONS |
Sec. 114.0821. LIABILITY OF TRUST PROPERTY
Latest version.
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Although trust property is held by the trustee without identifying the trust or its beneficiaries, the trust property is not liable to satisfy the personal obligations of the trustee.
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984. Renumbered from Sec. 114.082(b) by Acts 1987, 70th Leg., ch. 683, Sec. 4, eff. Aug. 31, 1987.