Texas Property Code

§ 181.055 — NOTICE OF RELEASE

PR § 181.055Title 10. MISCELLANEOUS BENEFICIAL PROPERTY INTERESTS · Part C. POWERS OF APPOINTMENT · Ch. 181. POWERS OF APPOINTMENT · Art. B. RELEASE OF POWERS OF APPOINTMENT

Statute text

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(a)A fiduciary or other person in possession or control of property subject to a power, other than the donee, does not have notice of a release of the power until the original release or a copy is delivered to the fiduciary or other person.

(b)A purchaser, lessee, or mortgagee of real property subject to a power who has paid a valuable consideration and who is without actual notice does not have notice of a release of the power until the instrument releasing the power is filed for record with the county clerk of the county in which the real property is located.

Legislative history

Acts 1983, 68th Leg., p. 3725, ch. 576, Sec. 1, eff. Jan. 1, 1984.