113.053[1/2] – PURCHASE OR SALE OF TRUST PROPERTY BY TRUSTEE.
Texas Property Code § 113.053[1/2]
Summary
This law prohibits trustees from buying or selling trust property to themselves or related parties, ensuring fiduciary integrity. It aims to prevent conflicts of interest in trust management and protects the interests of beneficiaries.
Trustees cannot transact trust property with themselves or affiliates.
Applies to relatives and business associates of the trustee.
Exceptions exist for certain national banking associations and state-chartered corporations.
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In simple terms: Learn about Texas's PURCHASE OR SALE OF TRUST PROPERTY BY TRUSTEE. 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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