141.017 – EXEMPTION OF THIRD PERSON FROM LIABILITY. A
Texas Property Code § 141.017
Summary
This law protects third parties who interact with a custodian acting in good faith. It ensures they are not held liable for actions taken based on the custodian's instructions, as long as they are unaware of any issues regarding the custodian's authority or the validity of the transfer.
Third parties are exempt from liability when acting in good faith.
No court order is required for these transactions.
Third parties are not responsible for verifying custodian authority.
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In simple terms: Learn about Texas's EXEMPTION OF THIRD PERSON FROM LIABILITY. 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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