Sec. 115.003. JOINT OWNERSHIP. (a) If a motor vehicle that is the subject of a beneficiary designation is owned by joint owners with right of survivorship, the beneficiary designation must be made by all of the joint owners.
(b) A beneficiary designation made by joint owners with right of survivorship:
(1) may be revoked or changed as provided by Section 501.0315, Transportation Code, only if it is revoked or changed by all of the joint owners; and
(2) may be revoked or changed by the last surviving joint owner as provided by Section 501.0315, Transportation Code.
Added by Acts 2017, 85th Leg., R.S., Ch. 586 (S.B. 869), Sec. 1, eff. September 1, 2017.
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 115 - Beneficiary Designation for Motor Vehicles
Section 115.002. Beneficiary Designation Authorized
Section 115.003. Joint Ownership
Section 115.004. Effect of Beneficiary Designation During Owner's Life
Section 115.005. Effect of Beneficiary Designation at Owner's or Last Surviving Owner's Death
Section 115.006. Creditor Claims; Allowances in Lieu of Exempt Property and Family Allowances