112.123 – APPLICATION OR DISTRIBUTION OF TRUST PROPERTY.
Texas Property Code § 112.123
Summary
This law governs how trust property can be used or distributed, ensuring it is applied only for its intended purpose unless a court determines otherwise. It affects trustees and beneficiaries by outlining the conditions under which excess trust property can be distributed.
Trust property must be used for its intended purpose.
Court can allow distribution of excess property.
Distribution follows the terms of the trust unless stated otherwise.
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In simple terms: Learn about Texas's APPLICATION OR DISTRIBUTION OF TRUST PROPERTY. 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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