Sec. 113.105. OWNERSHIP OF CONVENIENCE ACCOUNT; ADDITIONS AND ACCRUALS. (a) The making of a deposit in a convenience account does not affect the title to the deposit.
(b) A party to a convenience account is not considered to have made a gift of the deposit, or of any additions or accruals to the deposit, to a convenience signer.
(c) An addition made to a convenience account by anyone other than a party, and accruals to the addition, are considered to have been made by a party.
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle C - Passage of Title and Distribution of Decedents' Property in General
Chapter 113 - Multiple-Party Accounts
Subchapter C. Ownership and Operation of Accounts
Section 113.101. Effect of Certain Provisions Regarding Ownership Between Parties and Others
Section 113.102. Ownership of Joint Account During Parties' Lifetimes
Section 113.103. Ownership of P
Section 113.104. Ownership of Trust Account During Trustee's Lifetime
Section 113.105. Ownership of Convenience Account; Additions and Accruals
Section 113.106. Ownership and Operation of Other Account With Convenience Signer