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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A person or enterprise that, through racketeering, acquires property or prevents another person from receiving property that by law is required to be transferred or paid to that person is an involuntary trustee. The involuntary trustee or any other person or enterprise, other than a bona fide purchaser for value as described by Subsection (b), holds the property and the proceeds of the property in constructive trust for the benefit of any person entitled to remedies under this chapter.
(b) A bona fide purchaser for value who was reasonably without notice of unlawful conduct and who did not knowingly take part in an illegal transaction is not an involuntary trustee under Subsection (a) and is not subject to a constructive trust imposed under this chapter.
Cite this article: FindLaw.com - Texas Civil Practice and Remedies Code - CIV PRAC & REM § 140A.103. Constructive Trust - last updated January 01, 2024 | https://codes.findlaw.com/tx/civil-practice-and-remedies-code/civ-prac-rem-sect-140a-103/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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