Texas Estates Code
§ 113.252 — RIGHTS OF CREDITORS
ES § 113.252Title 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. F. RIGHTS OF CREDITORS; PLEDGE OF ACCOUNT
Statute text
View on source(a)A multiple-party account is not effective against:
(1)an estate of a deceased party to transfer to a survivor:
(A)amounts equal to the amounts of estate taxes and expenses charged under Subchapter A, Chapter 124, to the deceased party, P.O.D. payee, or beneficiary of the account; or
(B)if other assets of the estate are insufficient, amounts needed to pay debts, other taxes, and expenses of administration, including statutory allowances to the surviving spouse and minor children; or
(2)the claim of a secured creditor who has a lien on the account.
(b)A party, P.O.D. payee, or beneficiary who receives payment from a multiple-party account or causes a payment to be made to another person from a multiple-party account after the death of a deceased party is liable to account to the deceased party's personal representative for amounts the deceased party owned beneficially immediately before the party's death to the extent necessary to discharge the claims, expenses, and charges described by Subsection (a). The party, P.O.D. payee, or beneficiary is not liable in an amount greater than the amount the party, P.O.D. payee, or beneficiary received or caused to be paid to another person from the multiple-party account after the deceased party's death.
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Legislative history
Acts 2017, 85th Leg., R.S., Ch. 844 (H.B. 2271), Sec. 4, eff. September 1, 2017. Acts 2019, 86th Leg., R.S., Ch. 1141 (H.B. 2782), Sec. 3, eff. September 1, 2019.