Texas Estates Code

§ 113.203 — PAYMENT OF JOINT ACCOUNT

ES § 113.203Title 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. E. PROTECTION OF FINANCIAL INSTITUTIONS

Statute text

View on source

(a)Subject to Subsection (b), amounts in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded.

(b)Payment may not be made to the personal representative or heir of a deceased party unless:

(1)proofs of death are presented to the financial institution showing that the deceased party was the last surviving party; or

(2)there is no right of survivorship under Sections 113.151, 113.152, 113.153, and 113.155.

Legislative history

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