Sec. 181.055. NOTICE OF RELEASE. (a) A fiduciary or other person in possession or control of property subject to a power, other than the donee, does not have notice of a release of the power until the original release or a copy is delivered to the fiduciary or other person.
(b) A purchaser, lessee, or mortgagee of real property subject to a power who has paid a valuable consideration and who is without actual notice does not have notice of a release of the power until the instrument releasing the power is filed for record with the county clerk of the county in which the real property is located.
Acts 1983, 68th Leg., p. 3725, ch. 576, Sec. 1, eff. Jan. 1, 1984.
Structure Texas Statutes
Title 10 - Miscellaneous Beneficial Property Interests
Subtitle C - Powers of Appointment
Chapter 181 - Powers of Appointment
Subchapter B. Release of Powers of Appointment
Section 181.051. Authority of Donee to Release Power
Section 181.052. Requisites of Release
Section 181.053. Release by Guardian
Section 181.054. Effect of Release on Multiple Donees
Section 181.055. Notice of Release