Texas Property Code

§ 124.001 — DEFINITIONS

PR § 124.001Title 9. TRUSTS · Part C. MISCELLANEOUS TRUSTS · Ch. 124. PARTITION OF MINERAL INTERESTS OF CHARITABLE TRUST

Statute text

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In this chapter:

(1)"Charitable entity" means a corporation, trust, community chest, fund, foundation, or other entity organized for scientific, educational, philanthropic, or environmental purposes, social welfare, the arts and humanities, or another civic or public purpose described by Section 501(c)(3), Internal Revenue Code of 1986.

(2)"Charitable trust" means a charitable entity, a trust the stated purpose of which is to benefit a charitable entity, or an inter vivos or testamentary gift to a charitable entity.

(3)"Mineral interest" means an interest in oil, gas, or other mineral substance in place or that otherwise constitutes real property without regard to the depth at which such mineral substance is found.

Legislative history

Added by Acts 2013, 83rd Leg., R.S., Ch. 480 (S.B. 1240), Sec. 1, eff. June 14, 2013.