Texas Property Code 142.001 – Management by Decree
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(a) In a suit in which a minor or incapacitated person who has no legal guardian is represented by a next friend or an appointed guardian ad litem, the court, on application and hearing, may provide by decree for the investment of funds accruing to the minor or other person under the judgment in the suit.
(b) If the decree is made during vacation, it must be recorded in the minutes of the succeeding term of the court.
Terms Used In Texas Property Code 142.001
- 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.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Succeeding: means immediately following. See Texas Government Code 312.011