Texas Estates Code

§ 113.105 — OWNERSHIP OF CONVENIENCE ACCOUNT; ADDITIONS AND ACCRUALS

ES § 113.105Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part C. PASSAGE OF TITLE AND DISTRIBUTION OF DECEDENTS' PROPERTY IN GENERAL · Ch. 113. MULTIPLE-PARTY ACCOUNTS · Art. C. OWNERSHIP AND OPERATION OF ACCOUNTS

Statute text

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(a)The making of a deposit in a convenience account does not affect the title to the deposit.

(b)A party to a convenience account is not considered to have made a gift of the deposit, or of any additions or accruals to the deposit, to a convenience signer.

(c)An addition made to a convenience account by anyone other than a party, and accruals to the addition, are considered to have been made by a party.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.