Texas Estates Code 1161.153 – Court Approval of Contracts Required
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(a) If a contract is made for the investment of money in real estate under a court order, the guardian of the estate shall report the contract in writing to the court.
(b) The court shall inquire fully into the contract. If satisfied that the investment will benefit the ward‘s estate and that the title of the real estate is valid and unencumbered, the court may approve the contract and authorize the guardian to pay money in performance of the contract.
Terms Used In Texas Estates Code 1161.153
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033
(c) The guardian may not pay any money on the contract until the contract is approved by a court order to that effect.