Texas § ES.354.052 - BOND REQUIRED TO WITHDRAW ESTATE FROM ADMINISTRATION

§ ES.354.052. BOND REQUIRED TO WITHDRAW ESTATE FROM ADMINISTRATION

BOND REQUIRED TO WITHDRAW ESTATE FROM ADMINISTRATION. After the executor or administrator has rendered the exhibit of the condition of the estate if required under Section 354.051 , one or more persons entitled to the estate, or other persons for them, may execute and deliver a bond to the court. The bond must be: (1) conditioned that the persons executing the bond shall: (A) pay all unpaid debts against the estate that have been or are: (i) allowed by the executor or administrator and approved by the court; or (ii) established by suit against the estate; and (B) pay to the executor or administrator any balance that the court in its judgment on the exhibit finds to be due the executor or administrator; (2) payable to the judge and the judge's successors in office in an amount equal to at least twice the gross appraised value of the estate as shown by the inventory, appraisement, and list of claims returned under Chapter 309 ; and (3) approved by the court. Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502 ), Sec. 1, eff. January 1, 2014.