112.053 – DISPOSITION OF TRUST PROPERTY ON FAILURE OF
Texas Property Code § 112.053
Summary
This law allows the settlor of a trust to specify how trust property should be handled if the trust fails, is terminated, or revoked. It provides clarity on the disposition of assets, ensuring that the settlor's intentions are honored in such circumstances.
Settlor can dictate property disposition upon trust failure.
Applies to trust termination or revocation scenarios.
Ensures settlor's intentions are legally recognized.
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In simple terms: Learn about Texas's DISPOSITION OF TRUST PROPERTY ON FAILURE OF law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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