Texas Estates Code 305.151 – General Standard Regarding Amount of Bond
Current as of: 2024 | Check for updates
|
Other versions
(a) The judge shall set the amount of a bond, in an amount considered sufficient to protect the estate and the estate’s creditors, as provided by this chapter.
(b) Notwithstanding Subsection (a) or other provisions generally applicable to bonds of personal representatives, if the person to whom letters testamentary or of administration are granted is entitled to all of the decedent‘s estate after payment of debts, a bond shall be in an amount sufficient to protect creditors only.
Terms Used In Texas Estates Code 305.151
- Decedent: A deceased person.
- 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 - Judge: means the presiding judge of any court having original jurisdiction over probate proceedings, regardless of whether the court is:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise probate jurisdiction; or
(3) a district court exercising probate jurisdiction in a contested matter. See Texas Estates Code 22.019 - Person: includes a natural person and a corporation. See Texas Estates Code 22.027