§ 351.202 — ORDER REQUIRING PERSONAL REPRESENTATIVE TO OPERATE BUSINESS.

Texas § 351.202

• Jurisdiction: Texas
• Code ES: Estates Code

Text

Sec. 351.202. ORDER REQUIRING PERSONAL REPRESENTATIVE TO OPERATE BUSINESS. (a) A court, after notice to all interested persons and a hearing, may order the personal representative of an estate to operate a business that is part of the estate and may grant the representative the powers to operate the business that the court determines are appropriate, after considering the factors listed in Subsection (b), if:
(1) the disposition of the business has not been specifically directed by the decedent's will;
(2) it is not necessary to sell the business at once for the payment of debts or for any other lawful purpose; and
(3) the court determines that the operation of the business by the representative is in the best interest of the estate.
(b) In determining which powers to grant a personal representative in an order entered under Subsection (a), the court shall consider:
(1) the condition of the estate and the business;
(2) the necessity that may exist for the future sale of the business or of business property to provide for payment of debts or claims against the estate or other lawful expenditures with respect to the estate;
(3) the effect of the order on the speedy settlement of the estate; and
(4) the best interests of the estate.

Legislative History

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502 ), Sec. 1, eff. January 1, 2014.