Texas Estates Code 1352.106 – Use of Proceeds
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Terms Used In Texas Estates Code 1352.106
- Minor: means a person younger than 18 years of age who:
(1) has never been married; and
(2) has not had the disabilities of minority removed for general purposes. See Texas Estates Code 22.022 - Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033
Proceeds of a home equity loan that is the subject of an application under § 1352.102 that are attributable to the minor ward‘s interest may be spent only to:
(1) make improvements to the homestead;
(2) pay for the ward’s education or maintenance expenses; or
(3) pay the loan’s outstanding balance.