Texas Estates Code 1158.554 – Sufficiency of Bond
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(a) If the guardian of an estate is required by Subtitle D to give a general bond, before the court approves any sale of real estate, the court shall determine whether the bond is sufficient to protect the estate after the sale proceeds are received.
(b) If the court finds that the general bond is sufficient, the court may approve the sale as provided by Section 1158.556(a).
Terms Used In Texas Estates Code 1158.554
- Court: means and includes:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise original probate jurisdiction; and
(3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007 - Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
(c) If the court finds that the general bond is insufficient, the court may not approve the sale until the general bond is increased to the amount required by the court, or an additional bond is given, and approved by the court.
(d) An increase in the amount of the general bond, or the additional bond, as applicable under Subsection (c), must be equal to the sum of:
(1) the amount for which the real estate is sold; and
(2) any additional amount the court finds necessary and sets for the estate’s protection.