§ 351.205 — REAL PROPERTY OF BUSINESS; NOTICE.

Texas § 351.205

• Jurisdiction: Texas
• Code ES: Estates Code

Text

Sec. 351.205. REAL PROPERTY OF BUSINESS; NOTICE. (a) A personal representative shall file a notice in the real property records of the county in which the real property is located before purchasing, selling, leasing, or otherwise encumbering any real property of the business in accordance with an order entered under Section 351.202 (a).
(b) The notice filed under Subsection (a) must:
(1) state:
(A) the decedent's name;
(B) the county of the court in which the decedent's estate is pending;
(C) the cause number assigned to the pending estate; and
(D) that one or more orders have been entered under Section 351.202 (a); and
(2) include a description of the property that is the subject of the purchase, sale, lease, or other encumbrance.
(c) For purposes of determining a personal representative's authority with respect to a purchase, sale, lease, or other encumbrance of real property of a business that is part of an estate, a third party who deals in good faith with the representative with respect to the transaction may rely on the notice filed under Subsection (a) and an order entered under Section 351.202 (a) and filed as part of the estate records maintained by the clerk of the court in which the estate is pending.
SUBCHAPTER F. AUTHORITY TO ENGAGE IN CERTAIN BORROWING

Legislative History

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