Tex. Prop. Code § 114.081 · Subchapter D. THIRD PERSONS
PROTECTION OF PERSON DEALING WITH TRUSTEE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person who deals with a trustee in good faith and for fair value actually received by the trust is not liable to the trustee or the beneficiaries of the trust if the trustee has exceeded the trustee's authority in dealing with the person.
(b) A person other than a beneficiary is not required to inquire into the extent of the trustee's powers or the propriety of the exercise of those powers if the person:
(1) deals with the trustee in good faith; and
(2) obtains:
(A) a certification of trust described by Section 114.086; or
(B) a copy of the trust instrument.
(c) A person who in good faith delivers money or other assets to a trustee is not required to ensure the proper application of the money or other assets.
(d) A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.
(e) Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.
Notes and commentary — not statutory text
History
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 9, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.114.htm
- Text hash
- sha256 23839c6b5f2674cb73f23949f5c2ca7aecbdb118616a0233f7e5dac7b036a2c2
- 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
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