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Issuance of Letters

Issuance of Letters. When entitled to letters?. After the person: Takes oath, and Posts any required bond. PC § 182 EC Chapter 306. Form of Letters. Multiple Copies. Obtain multiple copies to assist in property transfer. PC § 187 EC § 306.006. BFP Protection.

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Issuance of Letters

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  1. Issuance of Letters

  2. When entitled to letters? • After the person: • Takes oath, and • Posts any required bond. • PC § 182 • EC Chapter 306

  3. Form of Letters

  4. Multiple Copies • Obtain multiple copies to assist in property transfer. • PC § 187 • EC § 306.006

  5. BFP Protection • BFP from holder of letters protected even if letters later deemed invalid. • PC § 188 • EC § 307.001

  6. BFP Protection • 1. Purchaser paid valuable consideration.

  7. BFP Protection • 1. Purchaser paid valuable consideration. • 2. Purchaser acted in good faith.

  8. BFP Protection • 1. Purchaser paid valuable consideration. • 2. Purchaser acted in good faith. • 3. Purchaser was without notice of an illegality

  9. BFP Protection • American Finance v. Herrera – p. 108 Independent Executor Beneficiary of Will [same person as beneficiary] Mortgaged property Defaulted Successor PR Foreclosure sale Mortgagee purchases property Purchaser from mortgagee

  10. Expiration of Letters • Probate/Estates Code = no expiration • U.C.C. § 8.402(c) for stock transfers = letters no older than 60 days may be requested • Advice = get fresh letters if someone complains they are stale

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