Estates Code § 356.554

Sec. 356.554. SUFFICIENCY OF BOND. (a) If the personal representative of an estate is required by this title to give a general bond, before the court approves any sale of real estate, the court shall determine whether the bond is sufficient to protect the estate after the sale proceeds are received. (b) If the court finds that the general bond is sufficient, the court may approve the sale as provided by Section 356.556(a). (c) If the court finds that the general bond is insufficient, the court may not approve the sale until the general bond is increased to the amount required by the court, or an additional bond is given, and approved by the court. (d) An increase in the amount of the general bond, or the additional bond, as applicable under Subsection (c), must be equal to the sum of: (1) the amount for which the real estate is sold; and (2) any additional amount the court finds necessary and sets for the estate's protection. Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014. Amended by: Acts 2019, 86th Leg., R.S., Ch. 1141 (H.B. 2782), Sec. 36, eff. September 1, 2019.