Texas Property Code 114.002 – Liability of Successor Trustee for Breach of Trust by Predecessor
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Terms Used In Texas Property Code 114.002
- Property: means real and personal property. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
A successor trustee is liable for a breach of trust of a predecessor only if he knows or should know of a situation constituting a breach of trust committed by the predecessor and the successor trustee:
(1) improperly permits it to continue;
(2) fails to make a reasonable effort to compel the predecessor trustee to deliver the trust property; or
(3) fails to make a reasonable effort to compel a redress of a breach of trust committed by the predecessor trustee.