Sec. 115.004. EFFECT OF BENEFICIARY DESIGNATION DURING OWNER'S LIFE. During a motor vehicle owner's life, a beneficiary designation does not:
(1) affect an interest or right of the owner or owners making the designation, including the right to transfer or encumber the motor vehicle that is the subject of the designation;
(2) create a legal or equitable interest in favor of the designated beneficiary in the motor vehicle that is the subject of the designation, even if the beneficiary has actual or constructive notice of the designation;
(3) affect an interest or right of a secured or unsecured creditor or future creditor of the owner or owners making the designation, even if the creditor has actual or constructive notice of the designation; or
(4) affect an owner's or the designated beneficiary's eligibility for any form of public assistance, subject to applicable federal law.
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