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Texas Estates Code - EST § 1151.155. Operation or Rental of Farm, Ranch, Factory, or Other Business

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) If the ward owns a farm, ranch, factory, or other business that is not required to be immediately sold for the payment of a debt or other lawful purpose, the guardian of the estate on order of the court shall, as it appears to be in the estate's best interests:

(1) continue to operate, or cause the continued operation of, the farm, ranch, factory, or other business;  or

(2) rent the farm, ranch, factory, or other business.

(b) In deciding whether to issue an order under Subsection (a), the court:

(1) shall consider:

(A) the condition of the estate;  and

(B) the necessity that may exist for the future sale of the property or business for the payment of a debt, claim, or other lawful expenditure;  and

(2) may not extend the time of renting any of the property beyond what appears consistent with the maintenance and education of a ward or the settlement of the ward's estate.

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Cite this article: FindLaw.com - Texas Estates Code - EST § 1151.155. Operation or Rental of Farm, Ranch, Factory, or Other Business - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-1151-155/

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