Tex. Est. Code Section 1161.153
Court Approval of Contracts Required

(a)

If a contract is made for the investment of money in real estate under a court order, the guardian of the estate shall report the contract in writing to the court.

(b)

The court shall inquire fully into the contract. If satisfied that the investment will benefit the ward’s estate and that the title of the real estate is valid and unencumbered, the court may approve the contract and authorize the guardian to pay money in performance of the contract.

(c)

The guardian may not pay any money on the contract until the contract is approved by a court order to that effect.

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.

Source: Section 1161.153 — Court Approval of Contracts Required, https://statutes.capitol.texas.gov/Docs/ES/htm/ES.1161.htm#1161.153 (accessed Jun. 5, 2024).

1161.001
Guardian’s Duty to Keep Estate Invested 1161.002
Standard for Management and Investment of Estate 1161.003
Investments that Meet Standard for Investment 1161.004
Restrictions on Investment in Certain Bonds 1161.005
Modification or Elimination of Duty or Standard 1161.006
Retention of Certain Assets 1161.007
Hearing to Protect Estate 1161.008
Liability of Guardian and Guardian’s Surety 1161.051
Procedure in General 1161.052
Court Action 1161.053
Applicability of Procedure to Certain Assets 1161.054
Inapplicability of Procedure to Certain Assets 1161.101
Definition 1161.102
Authority to Invest in Certain Insurance or Annuities 1161.103
Investment Requirements 1161.104
Procedure for Investing in Insurance or Annuities 1161.105
Continuation of Preexisting Policies or Annuities 1161.106
Control and Ownership of Policies or Annuities 1161.151
Authority to Invest in Real Estate 1161.152
Court Authorization to Make Investments 1161.153
Court Approval of Contracts Required 1161.201
Inapplicability of Subchapter 1161.202
Authority to Make Loans 1161.203
Loan Requirements 1161.204
Guardian’s Duty to Report Loan to Court 1161.205
Guardian’s Liability

Accessed:
Jun. 5, 2024

§ 1161.153’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._est._code_section_1161.153

Original Source: Section 1161.153 — Court Approval of Contracts Required, https://statutes.capitol.texas.gov/Docs/ES/htm/ES.1161.htm#1161.153 (last accessed Jun. 5, 2024).