Texas Property Code
§ 240.055 — DISCLAIMER BY APPOINTEE OF, OR OBJECT OR TAKER IN DEFAULT OF EXERCISE OF, POWER OF APPOINTMENT
PR § 240.055Title 13. DISCLAIMER OF PROPERTY INTERESTS · Ch. 240. TEXAS UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT · Art. B. TYPE AND EFFECT OF DISCLAIMER
Statute text
View on source(a)A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.
(b)A disclaimer of an interest in property by an object or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.
Legislative history
Added by Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 15, eff. September 1, 2015.