Texas Estates Code

§ 124.051 — VALUATION OF PROPERTY DISTRIBUTED IN KIND IN SATISFACTION OF PECUNIARY GIFT

ES § 124.051Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part C. PASSAGE OF TITLE AND DISTRIBUTION OF DECEDENTS' PROPERTY IN GENERAL · Ch. 124. VALUATION AND TAXATION OF ESTATE PROPERTY · Art. B. SATISFACTION OF CERTAIN PECUNIARY GIFTS

Statute text

View on source

Unless the governing instrument provides otherwise, if a will or trust contains a pecuniary devise or transfer that may be satisfied by distributing assets in kind and the executor, administrator, or trustee determines to fund the devise or transfer by distributing assets in kind, the property shall be valued, for the purpose of funding the devise or transfer, at the value of the property on the date or dates of distribution.

Legislative history

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