Validity of Trust; Applicability

Creation, Validity, Modification, and Termination of Trusts · Noncharitable Trust Without Ascertainable Beneficiary

(a) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary. A noncharitable purpose may include seeking economic or noneconomic benefits.

(b) This subchapter does not apply to a trust created under Section 112.037.

Official text of the Texas Property Code as published by the Texas Legislative Council.

Official source

Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 1121 (H.B. 2333), Sec. 2, eff. June 18, 2023.

This section refers to

§ 112.037