114.031 – LIABILITY OF BENEFICIARY TO TRUSTEE. (a) A
Texas Property Code § 114.031
Summary
This law establishes the circumstances under which a beneficiary may be held liable to a trustee for losses incurred by the trust. It applies to beneficiaries who misappropriate trust property, consent to breaches of trust, or fail to repay trust funds or excess distributions.
Beneficiaries can be liable for misappropriating trust property.
Liability arises from consent to trustee's breach of trust.
Failure to repay trust funds or excess distributions incurs liability.
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In simple terms: Learn about Texas's LIABILITY OF BENEFICIARY TO TRUSTEE. (a) A 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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