Texas Property Code

§ 240.053 — DISCLAIMER OF INTEREST BY TRUSTEE

PR § 240.053Title 13. DISCLAIMER OF PROPERTY INTERESTS · Ch. 240. TEXAS UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT · Art. B. TYPE AND EFFECT OF DISCLAIMER

Statute text

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(a)If a trustee disclaims an interest in property that otherwise would have become trust property:

(1)the interest does not become trust property;

(2)the disclaimer:

(A)takes effect as of the time the trust became irrevocable; and

(B)relates back for all purposes to the time the trust became irrevocable; and

(3)the disclaimed interest is not subject to the claims of any creditor of the trustee, the trust, or any trust beneficiary.

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Legislative history

Added by Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 15, eff. September 1, 2015.