116.178 – , or any asset for which the trustee establishes a reserve for
Texas Property Code § 116.178
Summary
This law outlines how a trustee should allocate income and principal from liquidating assets. It specifically mandates that 10% of receipts from such assets be allocated to income, with the remainder going to principal, affecting trustees managing these types of assets.
Trustees allocate 10% of liquidating asset receipts to income.
Remaining receipts are allocated to principal.
Trustees can use prior allocation methods if applicable.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's , or any asset for which the trustee establishes a reserve for law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.