APPLICATION; VENUE

(a) A parent or managing conservator shall apply to the court under oath for the authority to encumber the residence homestead as provided by this subchapter. (b) The application must contain: (1) the minor's name and address; (2) a legal description of the property constituting the homestead; (3) a description of the minor's ownership interest in the property constituting the homestead; (4) the fair market value of the property constituting the homestead; (5) the amount of the home equity loan; (6) the purpose or purposes for which the home equity loan is being sought; (7) a detailed description of the proposed expenditure of the loan proceeds to be received by the parent or managing conservator on the minor's behalf; and (8) a statement that all loan proceeds received by the parent or managing conservator on the minor's behalf through a home equity loan authorized under this subchapter shall be used in a manner that is for the minor's benefit. (c) Venue for the application is the same as venue for an application for the appointment of a guardian for a minor.