PARTITION AND DISTRIBUTION OF ESTATE; DEPOSIT IN COURT'S REGISTRY.
Tex. ESTATES Code § 362.011.
in effect(a) If, on final settlement of an estate, any of the estate remains in the personal representative's possession, the court shall order that a partition and distribution be made among the persons entitled to receive that part of the estate.
(b) The court shall order the personal representative to convert into money any remaining nonmonetary assets to which a person who is unknown or missing is entitled. The procedures in Chapter 356 apply to the conversion of nonmonetary assets under this subsection.
(c) The court shall order the personal representative to deposit in an account in the court's registry all money, including the proceeds of any conversion under Subsection (b), to which a person who is unknown or missing is entitled. The court shall hold money deposited in an account under this subsection until the court renders:
(1) an order requiring money in the account to be paid to the previously unknown or missing person who is entitled to the money; or
(2) another order regarding the disposition of the money.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502 ), Sec. 1, eff. January 1, 2014.
Acts 2013, 83rd Leg., R.S., Ch. 1136 (H.B. 2912 ), Sec. 48, eff. January 1, 2014.