1-1 By: Naishtat (Senate Sponsor - Moncrief) H.B. No. 1233
1-2 (In the Senate - Received from the House April 2, 2001;
1-3 April 3, 2001, read first time and referred to Committee on
1-4 Jurisprudence; May 1, 2001, reported favorably by the following
1-5 vote: Yeas 6, Nays 0; May 1, 2001, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the prepayment of funeral services by a guardian of the
1-9 estate of a ward.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Section 774(a), Texas Probate Code, is amended to
1-12 read as follows:
1-13 (a) On application, and if authorized by an order, the
1-14 guardian of the estate may renew or extend any obligation owed by
1-15 or to the ward. On written application to the court and when a
1-16 guardian of the estate deems it is in the best interest of the
1-17 estate, the guardian may, if authorized by an order of the court:
1-18 (1) purchase or exchange property;
1-19 (2) take a claim or property for the use and benefit
1-20 of the estate in payment of a debt due or owing to the estate;
1-21 (3) compound a bad or doubtful debt due or owing to
1-22 the estate;
1-23 (4) make a compromise or a settlement in relation to
1-24 property or a claim in dispute or litigation;
1-25 (5) compromise or pay in full any secured claim that
1-26 has been allowed and approved as required by law against the estate
1-27 by conveying to the holder of the secured claim the real estate or
1-28 personalty securing the claim, in full payment, liquidation, and
1-29 satisfaction of the claim, and in consideration of cancellation of
1-30 a note, deed of trust, mortgage, chattel mortgage, or other
1-31 evidence of a lien that secures the payment of the claim; [and]
1-32 (6) abandon worthless or burdensome property and the
1-33 administration of that property. Abandoned real or personal
1-34 property may be foreclosed on by a secured party, trustee, or
1-35 mortgagee without further order of the court; and
1-36 (7) purchase a prepaid funeral benefits contract.
1-37 SECTION 2. This Act takes effect September 1, 2001.
1-38 * * * * *