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Probate Law News
Texas Title Examination Standards
In 1989, the Council of the Section of Real Estate, Probate and Trust Law of the State Bar of Texas approved the formation of a committee to study the formulation and development of title examination standards. Through the newsletter of that Section, Section members were notified of the project. Lawyers from all parts of Texas responded evidencing their interest in working as active participants on this project. Subsequently, the Oil, Gas and Mineral Law Section of the State Bar of Texas asked to co-sponsor this project. After substantial study of the use of title examination standards and many hours of drafting and meeting time, proposed standards were published for comment in 1996 in the newsletters of both of the sponsoring sections. Following the receipt of comments from lawyers across Texas, additional revisions were made by the committee (now the "Title Standards Joint Editorial Board") and the proposed standards were once again published for comment in the Spring of 1997.
At the State Bar of Texas Convention on June 27, 1997, 33 standards were approved by both the Section of Real Estate, Probate and Trust Law and the Oil, Gas and Mineral Law Section. The initial standards constitute the beginning of title examination standards in Texas. Under current procedure, the Title Standards Joint Editorial Board, appointed by these two sections, meets at least semiannually to consider amendments to existing standards and additional standards. As with these initial standards, amendments or new standards are presented to the membership of these two sections prior to formal adoption; however, the Board will make changes to the comments and cautions as needed. In keeping with this process, the Comments, Cautions, Sources, and Histories have been updated from the initial Standards.
Probate Transfers Legal Title Of Property
Probate is the means by which legal title of property transfers from the estate of the person who has died, to his or her proper beneficiaries. The term "probate" refers to proving the existence of a valid Will, or determining and proving who one's legal beneficiaries are if there is no Will. Since you can't take it with you, probate is the process used to determine who gets your property.
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Definition:
A legal document that directs where a person's property should go after that person dies.
Beneficiary
Definition:
A person designated to receive the income or principal of a trust estate.
Power of attorney
Definition:
A legal agreement that authorizes someone to handle or share in handling the financial matters of another person. A "durable" power of attorney can continue to give power to another in handling financial matters after incapacitation has occurred.
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