diff --git a/src/libraries/System.Transactions.Local/ref/System.Transactions.Local.cs b/src/libraries/System.Transactions.Local/ref/System.Transactions.Local.cs
index f52ae1ffd8b918..2f08b176bc27bf 100644
--- a/src/libraries/System.Transactions.Local/ref/System.Transactions.Local.cs
+++ b/src/libraries/System.Transactions.Local/ref/System.Transactions.Local.cs
@@ -187,10 +187,10 @@ public static partial class TransactionInterop
     }
     public static partial class TransactionManager
     {
-        public static System.TimeSpan DefaultTimeout { get { throw null; } }
+        public static System.TimeSpan DefaultTimeout { get { throw null; } set { } }
         [System.Diagnostics.CodeAnalysis.DisallowNullAttribute]
         public static System.Transactions.HostCurrentTransactionCallback? HostCurrentCallback { get { throw null; } set { } }
-        public static System.TimeSpan MaximumTimeout { get { throw null; } }
+        public static System.TimeSpan MaximumTimeout { get { throw null; } set { } }
         public static event System.Transactions.TransactionStartedEventHandler? DistributedTransactionStarted { add { } remove { } }
         public static void RecoveryComplete(System.Guid resourceManagerIdentifier) { }
         public static System.Transactions.Enlistment Reenlist(System.Guid resourceManagerIdentifier, byte[] recoveryInformation, System.Transactions.IEnlistmentNotification enlistmentNotification) { throw null; }
diff --git a/src/libraries/System.Transactions.Local/src/System/Transactions/TransactionManager.cs b/src/libraries/System.Transactions.Local/src/System/Transactions/TransactionManager.cs
index c4d3c4ad726a7f..242325130d6546 100644
--- a/src/libraries/System.Transactions.Local/src/System/Transactions/TransactionManager.cs
+++ b/src/libraries/System.Transactions.Local/src/System/Transactions/TransactionManager.cs
@@ -279,7 +279,7 @@ internal static IsolationLevel DefaultIsolationLevel
         private static MachineSettingsSection MachineSettings => s_machineSettings ??= MachineSettingsSection.GetSection();
 
         private static bool s_defaultTimeoutValidated;
-        private static TimeSpan s_defaultTimeout;
+        private static long s_defaultTimeoutTicks;
         public static TimeSpan DefaultTimeout
         {
             get
@@ -292,23 +292,45 @@ public static TimeSpan DefaultTimeout
 
                 if (!s_defaultTimeoutValidated)
                 {
-                    s_defaultTimeout = ValidateTimeout(DefaultSettingsSection.Timeout);
-                    // If the timeout value got adjusted, it must have been greater than MaximumTimeout.
-                    if (s_defaultTimeout != DefaultSettingsSection.Timeout)
+                    LazyInitializer.EnsureInitialized(ref s_defaultTimeoutTicks, ref s_defaultTimeoutValidated, ref s_classSyncObject, () => ValidateTimeout(DefaultSettingsSection.Timeout).Ticks);
+                    if (Interlocked.Read(ref s_defaultTimeoutTicks) != DefaultSettingsSection.Timeout.Ticks)
                     {
                         if (etwLog.IsEnabled())
                         {
                             etwLog.ConfiguredDefaultTimeoutAdjusted();
                         }
                     }
-                    s_defaultTimeoutValidated = true;
                 }
 
                 if (etwLog.IsEnabled())
                 {
                     etwLog.MethodExit(TraceSourceType.TraceSourceBase, "TransactionManager.get_DefaultTimeout");
                 }
-                return s_defaultTimeout;
+                return new TimeSpan(Interlocked.Read(ref s_defaultTimeoutTicks));
+            }
+            set
+            {
+                TransactionsEtwProvider etwLog = TransactionsEtwProvider.Log;
+                if (etwLog.IsEnabled())
+                {
+                    etwLog.MethodEnter(TraceSourceType.TraceSourceBase, "TransactionManager.set_DefaultTimeout");
+                }
+
+                Interlocked.Exchange(ref s_defaultTimeoutTicks, ValidateTimeout(value).Ticks);
+                if (Interlocked.Read(ref s_defaultTimeoutTicks) != value.Ticks)
+                {
+                    if (etwLog.IsEnabled())
+                    {
+                        etwLog.ConfiguredDefaultTimeoutAdjusted();
+                    }
+                }
+
+                s_defaultTimeoutValidated = true;
+
+                if (etwLog.IsEnabled())
+                {
+                    etwLog.MethodExit(TraceSourceType.TraceSourceBase, "TransactionManager.set_DefaultTimeout");
+                }
             }
         }
 
@@ -325,7 +347,7 @@ public static TimeSpan MaximumTimeout
                     etwLog.MethodEnter(TraceSourceType.TraceSourceBase, "TransactionManager.get_DefaultMaximumTimeout");
                 }
 
-                LazyInitializer.EnsureInitialized(ref s_maximumTimeout, ref s_cachedMaxTimeout, ref s_classSyncObject, () => DefaultSettingsSection.Timeout);
+                LazyInitializer.EnsureInitialized(ref s_maximumTimeout, ref s_cachedMaxTimeout, ref s_classSyncObject, () => MachineSettingsSection.MaxTimeout);
 
                 if (etwLog.IsEnabled())
                 {
@@ -334,6 +356,39 @@ public static TimeSpan MaximumTimeout
 
                 return s_maximumTimeout;
             }
+            set
+            {
+                TransactionsEtwProvider etwLog = TransactionsEtwProvider.Log;
+                if (etwLog.IsEnabled())
+                {
+                    etwLog.MethodEnter(TraceSourceType.TraceSourceBase, "TransactionManager.set_DefaultMaximumTimeout");
+                }
+
+                if (value < TimeSpan.Zero)
+                {
+                    throw new ArgumentOutOfRangeException(nameof(value));
+                }
+
+                s_cachedMaxTimeout = true;
+                s_maximumTimeout = value;
+                LazyInitializer.EnsureInitialized(ref s_defaultTimeoutTicks, ref s_defaultTimeoutValidated, ref s_classSyncObject, () => DefaultSettingsSection.Timeout.Ticks);
+
+                long defaultTimeoutTicks = 0;
+                defaultTimeoutTicks = Interlocked.Read(ref s_defaultTimeoutTicks);
+                Interlocked.Exchange(ref s_defaultTimeoutTicks, ValidateTimeout(new TimeSpan(Interlocked.Read(ref s_defaultTimeoutTicks))).Ticks);
+                if (Interlocked.Read(ref s_defaultTimeoutTicks) != defaultTimeoutTicks)
+                {
+                    if (etwLog.IsEnabled())
+                    {
+                        etwLog.ConfiguredDefaultTimeoutAdjusted();
+                    }
+                }
+
+                if (etwLog.IsEnabled())
+                {
+                    etwLog.MethodExit(TraceSourceType.TraceSourceBase, "TransactionManager.set_DefaultMaximumTimeout");
+                }
+            }
         }
 
         /// <summary>
diff --git a/src/libraries/System.Transactions.Local/tests/System.Transactions.Local.Tests.csproj b/src/libraries/System.Transactions.Local/tests/System.Transactions.Local.Tests.csproj
index 90c3f0f9742e01..a5dda3d5689350 100644
--- a/src/libraries/System.Transactions.Local/tests/System.Transactions.Local.Tests.csproj
+++ b/src/libraries/System.Transactions.Local/tests/System.Transactions.Local.Tests.csproj
@@ -7,6 +7,7 @@
     <Compile Include="NonMsdtcPromoterTests.cs" />
     <Compile Include="AsyncTransactionScopeTests.cs" />
     <Compile Include="IntResourceManager.cs" />
+    <Compile Include="TransactionManagerTest.cs" />
     <Compile Include="TransactionScopeTest.cs" />
     <Compile Include="AsyncTest.cs" />
     <Compile Include="EnlistTest.cs" />
diff --git a/src/libraries/System.Transactions.Local/tests/TransactionManagerTest.cs b/src/libraries/System.Transactions.Local/tests/TransactionManagerTest.cs
new file mode 100644
index 00000000000000..9566901d90db8b
--- /dev/null
+++ b/src/libraries/System.Transactions.Local/tests/TransactionManagerTest.cs
@@ -0,0 +1,31 @@
+// Licensed to the .NET Foundation under one or more agreements.
+// The .NET Foundation licenses this file to you under the MIT license.
+
+using Xunit;
+
+namespace System.Transactions.Tests
+{
+    public class TransactionManagerTest
+    {
+        [Fact]
+        public void DefaultTimeout_MaxTimeout_Set_Get()
+        {
+            TimeSpan tsDefault = TimeSpan.Parse("00:02:00");
+            TransactionManager.DefaultTimeout = tsDefault;
+            Assert.Equal(tsDefault, TransactionManager.DefaultTimeout);
+
+            TimeSpan tsMax = TimeSpan.Parse("00:30:00");            
+            TransactionManager.MaximumTimeout = tsMax;
+            Assert.Equal(tsMax, TransactionManager.MaximumTimeout);            
+
+            TimeSpan ts = TransactionManager.MaximumTimeout.Add(TimeSpan.FromMinutes(10));
+            TransactionManager.DefaultTimeout = ts;
+            Assert.Equal(tsMax, TransactionManager.MaximumTimeout);
+            Assert.Equal(TransactionManager.DefaultTimeout, TransactionManager.MaximumTimeout);
+
+            ts = TimeSpan.Parse("-00:01:00");
+            Assert.Throws<ArgumentOutOfRangeException>(() => TransactionManager.DefaultTimeout = ts);
+            Assert.Throws<ArgumentOutOfRangeException>(() => TransactionManager.MaximumTimeout = ts);
+        }
+    }
+}