By Naishtat H.B. No. 1233
77R1306 MTB-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the prepayment of funeral services by a guardian of the
1-3 estate of a ward.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 774(a), Texas Probate Code, is amended to
1-6 read as follows:
1-7 (a) On application, and if authorized by an order, the
1-8 guardian of the estate may renew or extend any obligation owed by
1-9 or to the ward. On written application to the court and when a
1-10 guardian of the estate deems it is in the best interest of the
1-11 estate, the guardian may, if authorized by an order of the court:
1-12 (1) purchase or exchange property;
1-13 (2) take a claim or property for the use and benefit
1-14 of the estate in payment of a debt due or owing to the estate;
1-15 (3) compound a bad or doubtful debt due or owing to
1-16 the estate;
1-17 (4) make a compromise or a settlement in relation to
1-18 property or a claim in dispute or litigation;
1-19 (5) compromise or pay in full any secured claim that
1-20 has been allowed and approved as required by law against the estate
1-21 by conveying to the holder of the secured claim the real estate or
1-22 personalty securing the claim, in full payment, liquidation, and
1-23 satisfaction of the claim, and in consideration of cancellation of
1-24 a note, deed of trust, mortgage, chattel mortgage, or other
2-1 evidence of a lien that secures the payment of the claim; [and]
2-2 (6) abandon worthless or burdensome property and the
2-3 administration of that property. Abandoned real or personal
2-4 property may be foreclosed on by a secured party, trustee, or
2-5 mortgagee without further order of the court; and
2-6 (7) purchase a prepaid funeral benefits contract.
2-7 SECTION 2. This Act takes effect September 1, 2001.