116.162 – RENTAL PROPERTY. To the extent that a trustee
Texas Property Code § 116.162
Summary
This law outlines how a trustee must handle rental income and deposits from rental properties. It specifies that rental receipts should be allocated to income, while refundable deposits must be added to the principal and managed according to lease terms.
Trustees must allocate rental income to income accounts.
Refundable deposits are added to principal, not income.
Applies to both real and personal property rentals.
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In simple terms: Learn about Texas's RENTAL PROPERTY. To the extent that a 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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