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Texas Property Code - PROP § 5.009. Duties of Life Tenant

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

(a) Subject to Subsection (b), if the life tenant of a legal life estate is given the power to sell and reinvest any life tenancy property, the life tenant is subject, with respect to the sale and investment of the property, to all of the fiduciary duties of a trustee imposed by the Texas Trust Code (Subtitle B, Title 9, Property Code)   1 or the common law of this state.

(b) A life tenant may retain, as life tenancy property, any real property originally conveyed to the life tenant without being subject to the fiduciary duties of a trustee;  however, the life tenant is subject to the common law duties of a life tenant.

1  V.T.C.A., Property Code § 111.001 et seq.
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Cite this article: FindLaw.com - Texas Property Code - PROP § 5.009. Duties of Life Tenant - last updated January 01, 2024 | https://codes.findlaw.com/tx/property-code/prop-sect-5-009/

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