Sec. 113.1541. OWNERSHIP OF OTHER ACCOUNT WITH CONVENIENCE SIGNER ON DEATH OF LAST SURVIVING PARTY. On the death of the last surviving party to an account that has a convenience signer designated as provided by Section 113.106, the convenience signer does not have a right of survivorship in the account and the estate of the last surviving party owns the account unless the convenience signer is also designated as a P.O.D. payee or as a beneficiary.
Added by Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 8.006(b), 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 D. Rights of Survivorship in Accounts
Section 113.152. Ownership of P
Section 113.153. Ownership of Trust Account on Death of Trustee
Section 113.154. Ownership of Convenience Account on Death of Party
Section 113.155. Effect of Death of Party on Certain Accounts Without Rights of Survivorship
Section 113.156. Applicability of Certain Provisions on Death of Party
Section 113.157. Written Notice to Financial Institutions Regarding Form of Account
Section 113.158. Nontestamentary Nature of Certain Transfers