Tex. Prop. Code Section 141.017
Exemption of Third Person from Liability

A third person, in good faith and without court order, may act on the instructions of or otherwise deal with any person purporting to make a transfer or act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining the:

(1)

validity of the purported custodian’s designation;

(2)

propriety of, or the authority under this chapter for, any act of the purported custodian;

(3)

validity or propriety under this chapter of any instrument or instructions executed or given by the person purporting to make a transfer or by the purported custodian; or

(4)

propriety of the application of the minor’s property delivered to the purported custodian.

Added by Acts 1995, 74th Leg., ch. 1043, Sec. 1, eff. Sept. 1, 1995. Renumbered from Property Code Sec. 17 by Acts 1997, 75th Leg., ch. 165, Sec. 31.01(72), eff. Sept. 1, 1997.

Source: Section 141.017 — Exemption of Third Person from Liability, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.141.htm#141.017 (accessed Jun. 5, 2024).

141.001
Short Title 141.002
Definitions 141.003
Scope and Jurisdiction 141.004
Nomination of Custodian 141.005
Transfer by Gift or Exercise of Power of Appointment 141.006
Transfer Authorized by Will or Trust 141.007
Other Transfer by Fiduciary 141.008
Transfer by Obligor 141.009
Receipt for Custodial Property 141.010
Manner of Creating Custodial Property and Effecting Transfer 141.011
Single Custodianship 141.012
Validity and Effect of Transfer 141.013
Care of Custodial Property 141.014
Powers of Custodian 141.015
Use of Custodial Property 141.016
Custodian’s Expenses, Compensation, and Bond 141.017
Exemption of Third Person from Liability 141.018
Liability to Third Person 141.019
Renunciation, Resignation, Death, or Removal of Custodian 141.020
Accounting by and Determination of Liability 141.021
Termination of Custodianship 141.022
Applicability 141.023
Effect on Existing Custodianships 141.024
Uniformity of Application and Construction 141.025
Additional Transfers to Custodianships in Existence Before Effective Date of Act

Accessed:
Jun. 5, 2024

§ 141.017’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._prop._code_section_141.017

Original Source: Section 141.017 — Exemption of Third Person from Liability, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.141.htm#141.017 (last accessed Jun. 5, 2024).