Sec. 101.001. CONVEYANCE BY PERSON DESIGNATED AS TRUSTEE. If property is conveyed or transferred to a person designated as a trustee but the conveyance or transfer does not identify a trust or disclose the name of any beneficiary, the person designated as trustee may convey, transfer, or encumber the title of the property without subsequent question by a person who claims to be a beneficiary under a trust or who claims by, through, or under any undisclosed beneficiary or by, through, or under the person designated as trustee in that person's individual capacity.
Acts 1983, 68th Leg., p. 3654, ch. 576, Sec. 1, eff. Jan. 1, 1984. Amended by Acts 1987, 70th Leg., ch. 683, Sec. 3, eff. Aug. 31, 1987.
Notes of Decisions
Nolana Dev. Ass'n v. Corsi, 682 S.W.2d 246 (Tex. 1984).
“The requisites of an express trust are provided by the Texas Trust Code (Tex.Prop.Code Ann. § 101.001 et seq. (Vernon 1984)); however, the new trust code provides that the prior Texas Trust Act (repealed 1984) governs the validity of trusts entered into while the act was in…”
Hardy Road 13.4 Jt. Venture v. Med Ctr. Bank, 867 S.W.2d 889 (Tex. App.—Houston [1st Dist.] 1993).
“The trial court granted the Bank’s motion for summary judgment on the basis that the blind trust provision of Tex.Prop.Code Ann. § 101.001 (Vernon 1988) controls the transaction, and thus provides the Bank with a complete defense to all of the Joint Venture’s claims.”
Tex. Prop. Code § 101.001(b): 1 case
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