The parents of Amanda Bynes are throwing in the towel ... they'll file legal docs in the next few days handing over the conservatorship of their daughter to someone else, and then they're moving to Texas ... TMZ has learned.
Sources familiar with the case tell TMZ ... Amanda will now be under the thumb of a mental health professional who specializes in handling people with severe mental illnesses. Her parents will ask the judge to transfer conservatorship powers to that person.
We're also told the parents have made arrangements to transfer power over financial matters to another person ... presumably a money manager.
The parents are leaving California and will move to Texas to be closer to their older daughter.
Both parents are saying they know they've struck out with Amanda and don't have what it takes to effectively control her. They're hoping once someone else controls Amanda's finances, she'll stop lashing out at them and they can have a relationship ... even though it will be long distance.