Tex. Prop. Code § 112.123 · Subchapter F. NONCHARITABLE TRUST WITHOUT ASCERTAINABLE BENEFICIARY
APPLICATION OR DISTRIBUTION OF TRUST PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Property of a trust created under this subchapter may be applied only to the intended purpose of the trust, except to the extent that a court finds that the value of the trust property exceeds the amount required for the intended purpose of the trust.
(b) Except as provided by the terms of the trust, property found by a court not to be required for the trust's intended purpose shall be distributed:
(1) as provided by the terms of the trust; or
(2) if the trust does not provide for the distribution of such property, to the settlor if then living or to the settlor's successors in interest.
Notes and commentary — not statutory text
History
Added by Acts 2023, 88th Leg., R.S., Ch. 1121 (H.B. 2333), Sec. 2, eff. June 18, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.112.htm
- Text hash
- sha256 fac6cc1be2a72d47aa5ae59c14045dfe89b3b44881d7065ec4cda2ac5393778b
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.