116.102 – APPORTIONMENT OF RECEIPTS AND DISBURSEMENTS WHEN
Texas Property Code § 116.102
Summary
This law outlines how a trustee should allocate income receipts and disbursements when a decedent dies or when an income interest begins. It ensures that certain receipts are classified as principal based on their due dates, affecting the management of estates and trusts.
Trustees must allocate receipts based on due dates.
Applies to estates and trusts upon decedent's death.
Certain receipts classified as principal under specific conditions.
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In simple terms: Learn about Texas's APPORTIONMENT OF RECEIPTS AND DISBURSEMENTS WHEN 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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