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Texas Estates Code - EST § 1352.053. Application;  Venue

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

(a) A parent or managing conservator shall apply to the court under oath for the authority to encumber the residence homestead as provided by this subchapter.

(b) The application must contain:

(1) the minor's name and address;

(2) a legal description of the property constituting the homestead;

(3) a description of the minor's ownership interest in the property constituting the homestead;

(4) the fair market value of the property constituting the homestead;

(5) the amount of the home equity loan;

(6) the purpose or purposes for which the home equity loan is being sought;

(7) a detailed description of the proposed expenditure of the loan proceeds to be received by the parent or managing conservator on the minor's behalf;  and

(8) a statement that all loan proceeds received by the parent or managing conservator on the minor's behalf through a home equity loan authorized under this subchapter shall be used in a manner that is for the minor's benefit.

(c) Venue for the application is the same as venue for an application for the appointment of a guardian for a minor.

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Cite this article: FindLaw.com - Texas Estates Code - EST § 1352.053. Application;  Venue - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-1352-053/

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