(a) Except as provided by Subsection (b), for the first year following the death of the individual a property right may be exercised, if authorized by law or an appointing court, by the following persons who may be appointed by a court for the benefit of the estate of the deceased individual:
(1) an independent executor;
(2) an executor;
(3) an independent administrator;
(4) a temporary or permanent administrator; or
(5) a temporary or permanent guardian.
(b) For the first year following the death of the individual, an owner of a property right may exercise that right only if the owner registers a valid claim as provided by Section 26.006.