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          A BILL TO BE ENTITLED
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          AN ACT
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        relating to the adoption of the Texas Uniform Disclaimer of  | 
      
      
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        Property Interests Act. | 
      
      
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               BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | 
      
      
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               SECTION 1.  The Property Code is amended by adding Title 13  | 
      
      
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        to read as follows: | 
      
      
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        TITLE 13. DISCLAIMER OF PROPERTY INTERESTS  | 
      
      
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        CHAPTER 240. TEXAS UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT | 
      
      
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        SUBCHAPTER A.  GENERAL PROVISIONS | 
      
      
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               Sec. 240.001.  SHORT TITLE.  This chapter may be cited as the  | 
      
      
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        "Texas Uniform Disclaimer of Property Interests Act."  | 
      
      
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               Sec. 240.002.  DEFINITIONS.  In this chapter:  | 
      
      
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                     (1)  "Disclaimant" means: | 
      
      
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                           (A)  the person to whom a disclaimed interest or  | 
      
      
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        power would have passed had the disclaimer not been made; | 
      
      
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                           (B)  the estate to which a disclaimed interest or  | 
      
      
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        power would have passed had the disclaimer not been made by the  | 
      
      
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        personal representative of the estate; | 
      
      
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                           (C)  the ward to whom a disclaimed interest or  | 
      
      
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        power would have passed had the disclaimer not been made by the  | 
      
      
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        guardian of the ward's estate; or | 
      
      
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                           (D)  the trust into which a disclaimed interest or  | 
      
      
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        power would have passed had the disclaimer not been made by the  | 
      
      
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        trustee of the trust. | 
      
      
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                     (2)  "Disclaimed interest" means the interest that  | 
      
      
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        would have passed to the disclaimant had the disclaimer not been  | 
      
      
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        made.  | 
      
      
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                     (3)  "Disclaimed power" means the power that would have  | 
      
      
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        been possessed by the disclaimant had the disclaimer not been made. | 
      
      
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                     (4)  "Disclaimer" means the refusal to accept an  | 
      
      
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        interest in or power over property. | 
      
      
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                     (5)  "Estate" has the meaning assigned by Section  | 
      
      
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        22.012, Estates Code. | 
      
      
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                     (6)  "Guardian" has the meaning assigned by Section  | 
      
      
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        1002.012, Estates Code. | 
      
      
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                     (7)  "Fiduciary" means a personal representative, a  | 
      
      
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        trustee, an attorney in fact or agent acting under a power of  | 
      
      
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        attorney, or any other person authorized to act as a fiduciary with  | 
      
      
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        respect to the property of another person.  | 
      
      
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                     (8)  Notwithstanding Section 311.005, Government Code,  | 
      
      
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        "person" means an individual, corporation, including a public  | 
      
      
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        corporation, business trust, partnership, limited liability  | 
      
      
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        company, association, joint venture, governmental entity,  | 
      
      
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        including a political subdivision, agency, or instrumentality, or  | 
      
      
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        any other legal entity.  | 
      
      
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                     (9)  "Personal representative" has the meanings  | 
      
      
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        assigned by Sections 22.031 and 1002.028, Estates Code. | 
      
      
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                     (10)  "State" means a state of the United States, the  | 
      
      
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        District of Columbia, Puerto Rico, the United States Virgin  | 
      
      
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        Islands, or any territory or insular possession subject to the  | 
      
      
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        jurisdiction of the United States. The term includes an Indian  | 
      
      
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        tribe or band, or Alaskan native village, recognized by federal law  | 
      
      
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        or formally acknowledged by a state.  | 
      
      
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                     (11)  "Survivorship property" means property held in  | 
      
      
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        the name of two or more persons under an arrangement in which, on  | 
      
      
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        the death of one of the persons, the property passes to and is  | 
      
      
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        vested in the other person or persons.  The term includes: | 
      
      
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                           (A)  property held by an agreement described in  | 
      
      
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        Section 111.001, Estates Code; | 
      
      
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                           (B)  property held by a community property  | 
      
      
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        survivorship agreement defined in Section 112.001, Estates Code;  | 
      
      
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        and | 
      
      
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                           (C)  property in a joint account held by an  | 
      
      
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        agreement described in Section 113.151, Estates Code. | 
      
      
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                     (12)  "Trust" means a trust described in Section  | 
      
      
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        111.003. | 
      
      
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                     (13)  "Ward" has the meaning assigned by Section  | 
      
      
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        22.033, Estates Code. | 
      
      
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               Sec. 240.003.  APPLICABILITY OF CHAPTER.  This chapter  | 
      
      
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        applies to disclaimers of any interest in or power over property,  | 
      
      
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        whenever created.  | 
      
      
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               Sec. 240.004.  CHAPTER SUPPLEMENTED BY OTHER LAW.  (a)   | 
      
      
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        Unless displaced by a provision of this chapter, the principles of  | 
      
      
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        law and equity supplement this chapter.  | 
      
      
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               (b)  This chapter does not limit any right of a person to  | 
      
      
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        waive, release, disclaim, or renounce an interest in or power over  | 
      
      
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        property under a law other than this chapter. | 
      
      
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               Sec. 240.005.  UNIFORMITY OF APPLICATION AND CONSTRUCTION.   | 
      
      
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        In applying and construing this chapter, consideration must be  | 
      
      
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        given to the need to promote uniformity of the law, with respect to  | 
      
      
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        the subject matter of this chapter, among states that enact a law  | 
      
      
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        similar to this chapter. | 
      
      
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               Sec. 240.006.  POWER TO DISCLAIM BY PERSON OTHER THAN  | 
      
      
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        FIDUCIARY.  (a)  A person other than a fiduciary may disclaim, in  | 
      
      
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        whole or in part, any interest in or power over property, including  | 
      
      
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        a power of appointment. | 
      
      
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               (b)  A person other than a fiduciary may disclaim an interest  | 
      
      
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        or power under this section even if the creator of the interest or  | 
      
      
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        power imposed a spendthrift provision or similar restriction on  | 
      
      
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        transfer or a restriction or limitation on the right to disclaim.  | 
      
      
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               Sec. 240.007.  POWER TO DISCLAIM POWER HELD IN FIDUCIARY  | 
      
      
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        CAPACITY BY PERSON DESIGNATED TO SERVE AS OR SERVING AS FIDUCIARY.   | 
      
      
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        (a)  Except to the extent the person's right to disclaim is  | 
      
      
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        expressly restricted or limited by a law of this state or by the  | 
      
      
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        instrument creating the fiduciary relationship, a person  | 
      
      
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        designated to serve or serving as a fiduciary may disclaim, in whole  | 
      
      
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        or in part, any power over property, including a power of  | 
      
      
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        appointment, held in a fiduciary capacity. | 
      
      
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               (b)  A person designated to serve or serving as a fiduciary  | 
      
      
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        may disclaim a power under this section even if: | 
      
      
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                     (1)  the creator of the power imposed a spendthrift  | 
      
      
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        provision or similar restriction on transfer or a restriction or  | 
      
      
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        limitation on the right to disclaim; or | 
      
      
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                     (2)  an instrument other than the instrument that  | 
      
      
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        created the fiduciary relationship imposed a restriction or  | 
      
      
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        limitation on the right to disclaim. | 
      
      
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               Sec. 240.008.  POWER TO DISCLAIM BY FIDUCIARY ACTING IN  | 
      
      
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        FIDUCIARY CAPACITY.  (a)  Subject to Subsection (e) and except to  | 
      
      
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        the extent the fiduciary's right to disclaim is expressly  | 
      
      
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        restricted or limited by a law of this state or by the instrument  | 
      
      
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        creating the fiduciary relationship, a fiduciary acting in a  | 
      
      
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        fiduciary capacity may disclaim, in whole or in part, any interest  | 
      
      
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        in or power over property, including a power of appointment, that  | 
      
      
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        would have passed to the ward, estate, trust, or principal with  | 
      
      
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        respect to which the fiduciary was acting had the disclaimer not  | 
      
      
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        been made. | 
      
      
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               (b)  A fiduciary acting in a fiduciary capacity may disclaim  | 
      
      
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        an interest or power under this section even if the creator of the  | 
      
      
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        power or duty imposed a spendthrift provision or similar  | 
      
      
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        restriction on transfer or a restriction or limitation on the right  | 
      
      
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        to disclaim, or an instrument other than the instrument that  | 
      
      
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        created the fiduciary relationship imposed a restriction or  | 
      
      
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        limitation on the right to disclaim. | 
      
      
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               (c)  Except for a disclaimer by a personal representative  | 
      
      
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        subject to court supervision or a disclaimer by the trustee of a  | 
      
      
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        management trust described in Chapter 1301, Estates Code, a  | 
      
      
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        disclaimer by a fiduciary acting in a fiduciary capacity does not  | 
      
      
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        require court approval to be effective unless the instrument that  | 
      
      
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        created the fiduciary relationship requires court approval. | 
      
      
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               (d)  In the absence of a court-appointed guardian, without  | 
      
      
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        court approval, a natural guardian as described by Section  | 
      
      
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        1104.051, Estates Code, may disclaim on behalf of a minor child of  | 
      
      
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        the natural guardian, in whole or in part, any interest in or power  | 
      
      
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        over property, including a power of appointment, that the minor  | 
      
      
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        child is to receive solely as a result of another disclaimer, but  | 
      
      
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        only if the disclaimed interest or power does not pass to or for the  | 
      
      
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        benefit of the natural guardian as a result of the disclaimer. | 
      
      
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               (e)  A disclaimer by a fiduciary acting in a fiduciary  | 
      
      
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        capacity must be compatible with the fiduciary's fiduciary  | 
      
      
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        obligations, unless a court of proper jurisdiction orders  | 
      
      
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        otherwise. | 
      
      
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               Sec. 240.009.  POWER TO DISCLAIM; GENERAL REQUIREMENTS; WHEN  | 
      
      
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        IRREVOCABLE.  (a) To be effective, a disclaimer must: | 
      
      
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                     (1)  be in writing; | 
      
      
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                     (2)  declare the disclaimer; | 
      
      
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                     (3)  describe the interest or power disclaimed; | 
      
      
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                     (4)  be signed by the person making the disclaimer; and | 
      
      
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                     (5)  be delivered or filed in the manner provided by  | 
      
      
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        Subchapter C. | 
      
      
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               (b)  A partial disclaimer may be expressed as a fraction,  | 
      
      
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        percentage, monetary amount, term of years, limitation of a power,  | 
      
      
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        or any other interest or estate in the property.  | 
      
      
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               (c)  A disclaimer is irrevocable on the later of the date the  | 
      
      
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        disclaimer: | 
      
      
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                     (1)  is delivered or filed under Subchapter C; or | 
      
      
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                     (2)  takes effect as provided in Sections  | 
      
      
        | 
           
			 | 
        240.051-240.056. | 
      
      
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               (d)  A disclaimer made under this chapter is not a transfer,  | 
      
      
        | 
           
			 | 
        assignment, or release. | 
      
      
        | 
           
			 | 
        SUBCHAPTER B. TYPE AND EFFECT OF DISCLAIMER | 
      
      
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               Sec. 240.051.  DISCLAIMER OF INTEREST IN PROPERTY.  (a)  In  | 
      
      
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        this section:  | 
      
      
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                     (1)  "Future interest" means an interest that takes  | 
      
      
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        effect in possession or enjoyment, if at all, later than the time of  | 
      
      
        | 
           
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        the interest's creation.  | 
      
      
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                     (2)  "Time of distribution" means the time when a  | 
      
      
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        disclaimed interest would have taken effect in possession or  | 
      
      
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        enjoyment. | 
      
      
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               (b)  This section applies to a disclaimer of an interest in  | 
      
      
        | 
           
			 | 
        property other than a disclaimer subject to Section 240.052 or  | 
      
      
        | 
           
			 | 
        240.053. | 
      
      
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			 | 
               (c)  A disclaimer takes effect as of the time the instrument  | 
      
      
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			 | 
        creating the interest becomes irrevocable, or, if the interest  | 
      
      
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			 | 
        arose under the law of intestate succession, as of the time of the  | 
      
      
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        intestate's death.  | 
      
      
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               (d)  A disclaimed interest passes according to any provision  | 
      
      
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        in the instrument creating the interest that provides for: | 
      
      
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			 | 
                     (1)  the disposition of the interest if the interest  | 
      
      
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			 | 
        were to be disclaimed; or | 
      
      
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                     (2)  the disposition of disclaimed interests in  | 
      
      
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        general.  | 
      
      
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			 | 
               (e)  If the instrument creating the disclaimed interest does  | 
      
      
        | 
           
			 | 
        not contain a provision described by Subsection (d) and: | 
      
      
        | 
           
			 | 
                     (1)  if the disclaimant is not an individual, the  | 
      
      
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        disclaimed interest passes as if the disclaimant did not exist; or | 
      
      
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			 | 
                     (2)  if the disclaimant is an individual: | 
      
      
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			 | 
                           (A)  except as otherwise provided in Paragraph (B)  | 
      
      
        | 
           
			 | 
        or (C), the disclaimed interest passes as if the disclaimant had  | 
      
      
        | 
           
			 | 
        died immediately before the time of distribution; | 
      
      
        | 
           
			 | 
                           (B)  if by law or under the instrument the  | 
      
      
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			 | 
        descendants of a disclaimant would share in the disclaimed interest  | 
      
      
        | 
           
			 | 
        by any method of representation had the disclaimant died before the  | 
      
      
        | 
           
			 | 
        time of distribution, the disclaimed interest passes only to the  | 
      
      
        | 
           
			 | 
        descendants of the disclaimant who survive the time of  | 
      
      
        | 
           
			 | 
        distribution; and | 
      
      
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			 | 
                           (C)  if the disclaimed interest would have passed  | 
      
      
        | 
           
			 | 
        to the disclaimant's estate had the disclaimant died before the  | 
      
      
        | 
           
			 | 
        time of distribution, the disclaimed interest instead passes by  | 
      
      
        | 
           
			 | 
        representation to the descendants of the disclaimant who survive  | 
      
      
        | 
           
			 | 
        the time of distribution. | 
      
      
        | 
           
			 | 
               (f)  If a descendant of the disclaimant does not survive the  | 
      
      
        | 
           
			 | 
        time of distribution under Subsection (e)(2)(C), the disclaimed  | 
      
      
        | 
           
			 | 
        interest passes to those persons, including the state but excluding  | 
      
      
        | 
           
			 | 
        the disclaimant, and in such shares as would have succeeded to the  | 
      
      
        | 
           
			 | 
        transferor's intestate estate under the intestate succession law of  | 
      
      
        | 
           
			 | 
        the transferor's domicile had the transferor died at the time of  | 
      
      
        | 
           
			 | 
        distribution, except that if the transferor's surviving spouse is  | 
      
      
        | 
           
			 | 
        living but is remarried at the time of distribution, the transferor  | 
      
      
        | 
           
			 | 
        is considered to have died unmarried at the time of distribution.  | 
      
      
        | 
           
			 | 
               (g)  On the disclaimer of a preceding interest, a future  | 
      
      
        | 
           
			 | 
        interest held by a person other than the disclaimant takes effect as  | 
      
      
        | 
           
			 | 
        if the disclaimant had died or ceased to exist immediately before  | 
      
      
        | 
           
			 | 
        the time of distribution, but a future interest held by the  | 
      
      
        | 
           
			 | 
        disclaimant is not accelerated in possession or enjoyment.  | 
      
      
        | 
           
			 | 
               Sec. 240.052.  DISCLAIMER OF RIGHTS IN SURVIVORSHIP  | 
      
      
        | 
           
			 | 
        PROPERTY.  (a)  On the death of a holder of survivorship property, a  | 
      
      
        | 
           
			 | 
        surviving holder may disclaim, in whole or in part: | 
      
      
        | 
           
			 | 
                     (1)  if the survivorship property is held by a  | 
      
      
        | 
           
			 | 
        community property survivorship agreement defined by Section  | 
      
      
        | 
           
			 | 
        112.001, Estates Code, one-half of the survivorship property; or | 
      
      
        | 
           
			 | 
                     (2)  if the survivorship property is held by an  | 
      
      
        | 
           
			 | 
        agreement described in Section 111.001, Estates Code, or in a joint  | 
      
      
        | 
           
			 | 
        account held by an agreement described in Section 113.151, Estates  | 
      
      
        | 
           
			 | 
        Code, the greater of:  | 
      
      
        | 
           
			 | 
                           (A)  a fractional share of the property determined  | 
      
      
        | 
           
			 | 
        by dividing the number one by the number of holders alive  | 
      
      
        | 
           
			 | 
        immediately before the death of the holder to whose death the  | 
      
      
        | 
           
			 | 
        disclaimer relates; or  | 
      
      
        | 
           
			 | 
                           (B)  all of the property except that part of the  | 
      
      
        | 
           
			 | 
        value of the entire interest attributable to the contribution  | 
      
      
        | 
           
			 | 
        furnished by the disclaimant.  | 
      
      
        | 
           
			 | 
               (b)  A disclaimer under Subsection (a) takes effect as of the  | 
      
      
        | 
           
			 | 
        death of the holder of survivorship property to whose death the  | 
      
      
        | 
           
			 | 
        disclaimer relates.  | 
      
      
        | 
           
			 | 
               (c)  An interest in survivorship property disclaimed by a  | 
      
      
        | 
           
			 | 
        surviving holder of the property passes as if the disclaimant  | 
      
      
        | 
           
			 | 
        predeceased the holder to whose death the disclaimer relates.  | 
      
      
        | 
           
			 | 
               Sec. 240.053.  DISCLAIMER OF INTEREST BY TRUSTEE.  If a  | 
      
      
        | 
           
			 | 
        trustee disclaims an interest in property that otherwise would have  | 
      
      
        | 
           
			 | 
        become trust property, the interest does not become trust property.  | 
      
      
        | 
           
			 | 
               Sec. 240.054.  DISCLAIMER OF POWER OF APPOINTMENT OR OTHER  | 
      
      
        | 
           
			 | 
        POWER NOT HELD IN FIDUCIARY CAPACITY.  (a)  If a holder disclaims a  | 
      
      
        | 
           
			 | 
        power of appointment or other power not held in a fiduciary  | 
      
      
        | 
           
			 | 
        capacity, this section applies.  | 
      
      
        | 
           
			 | 
               (b)  If the holder: | 
      
      
        | 
           
			 | 
                     (1)  has not exercised the power, the disclaimer takes  | 
      
      
        | 
           
			 | 
        effect as of the time the instrument creating the power becomes  | 
      
      
        | 
           
			 | 
        irrevocable; or | 
      
      
        | 
           
			 | 
                     (2)  has exercised the power and the disclaimer is of a  | 
      
      
        | 
           
			 | 
        power other than a presently exercisable general power of  | 
      
      
        | 
           
			 | 
        appointment, the disclaimer takes effect immediately after the last  | 
      
      
        | 
           
			 | 
        exercise of the power. | 
      
      
        | 
           
			 | 
               (c)  The instrument creating the power is construed as if the  | 
      
      
        | 
           
			 | 
        power had expired when the disclaimer became effective.  | 
      
      
        | 
           
			 | 
               Sec. 240.055.  DISCLAIMER BY APPOINTEE, OBJECT, OR TAKER IN  | 
      
      
        | 
           
			 | 
        DEFAULT OF EXERCISE OF POWER OF APPOINTMENT. (a)  A disclaimer of an  | 
      
      
        | 
           
			 | 
        interest in property by an appointee of a power of appointment takes  | 
      
      
        | 
           
			 | 
        effect as of the time the instrument by which the holder exercises  | 
      
      
        | 
           
			 | 
        the power becomes irrevocable. | 
      
      
        | 
           
			 | 
               (b)  A disclaimer of an interest in property by an object or  | 
      
      
        | 
           
			 | 
        taker in default of an exercise of a power of appointment takes  | 
      
      
        | 
           
			 | 
        effect as of the time the instrument creating the power becomes  | 
      
      
        | 
           
			 | 
        irrevocable. | 
      
      
        | 
           
			 | 
               Sec. 240.056.  DISCLAIMER OF POWER HELD IN FIDUCIARY  | 
      
      
        | 
           
			 | 
        CAPACITY.  (a)  If a person designated to serve or serving as a  | 
      
      
        | 
           
			 | 
        fiduciary disclaims a power held or to be held in a fiduciary  | 
      
      
        | 
           
			 | 
        capacity that has not been exercised, the disclaimer takes effect  | 
      
      
        | 
           
			 | 
        as of the time the instrument creating the power becomes  | 
      
      
        | 
           
			 | 
        irrevocable.  | 
      
      
        | 
           
			 | 
               (b)  If a person designated to serve or serving as a  | 
      
      
        | 
           
			 | 
        fiduciary disclaims a power held or to be held in a fiduciary  | 
      
      
        | 
           
			 | 
        capacity that has been exercised, the disclaimer takes effect  | 
      
      
        | 
           
			 | 
        immediately after the last exercise of the power.  | 
      
      
        | 
           
			 | 
               (c)  A disclaimer subject to this section is effective as to  | 
      
      
        | 
           
			 | 
        another person designated to serve or serving as a fiduciary if: | 
      
      
        | 
           
			 | 
                     (1)  the disclaimer provides that it is effective as to  | 
      
      
        | 
           
			 | 
        another person designated to serve or serving as a fiduciary; and | 
      
      
        | 
           
			 | 
                     (2)  the person disclaiming has the authority to bind  | 
      
      
        | 
           
			 | 
        the estate, trust, or other person for whom the person is acting.  | 
      
      
        | 
           
			 | 
               Sec. 240.057.  TAX QUALIFIED DISCLAIMER.  Notwithstanding  | 
      
      
        | 
           
			 | 
        any other provision of this chapter, if, as a result of a disclaimer  | 
      
      
        | 
           
			 | 
        or transfer, the disclaimed or transferred interest is treated  | 
      
      
        | 
           
			 | 
        under the Internal Revenue Code of 1986 or any successor law as  | 
      
      
        | 
           
			 | 
        never having been transferred to the disclaimant, the disclaimer or  | 
      
      
        | 
           
			 | 
        transfer is effective as a disclaimer under this chapter. | 
      
      
        | 
           
			 | 
        SUBCHAPTER C.  DELIVERY OR FILING | 
      
      
        | 
           
			 | 
               Sec. 240.101.  DELIVERY OR FILING GENERALLY.  (a)  Subject to  | 
      
      
        | 
           
			 | 
        applicable requirements of this subchapter, a disclaimant may  | 
      
      
        | 
           
			 | 
        deliver a disclaimer by personal delivery, first-class mail,  | 
      
      
        | 
           
			 | 
        facsimile, e-mail, or any other method likely to result in the  | 
      
      
        | 
           
			 | 
        disclaimer's receipt. | 
      
      
        | 
           
			 | 
               (b)  If a disclaimer is mailed to the intended recipient by  | 
      
      
        | 
           
			 | 
        certified mail, return receipt requested, at an address the  | 
      
      
        | 
           
			 | 
        disclaimant in good faith believes is likely to result in the  | 
      
      
        | 
           
			 | 
        disclaimer's receipt, delivery is considered to have occurred on  | 
      
      
        | 
           
			 | 
        the date of mailing regardless of the date of receipt. | 
      
      
        | 
           
			 | 
               Sec. 240.102.  DISCLAIMER OF INTEREST CREATED UNDER  | 
      
      
        | 
           
			 | 
        INTESTATE SUCCESSION OR WILL.  In the case of an interest created  | 
      
      
        | 
           
			 | 
        under the law of intestate succession or an interest created by  | 
      
      
        | 
           
			 | 
        will, other than an interest in a testamentary trust:  | 
      
      
        | 
           
			 | 
                     (1)  a disclaimer must be delivered to the personal  | 
      
      
        | 
           
			 | 
        representative of the decedent's estate; or  | 
      
      
        | 
           
			 | 
                     (2)  if no personal representative is then serving, a  | 
      
      
        | 
           
			 | 
        disclaimer must be filed in the official public records of the  | 
      
      
        | 
           
			 | 
        county in which the decedent: | 
      
      
        | 
           
			 | 
                           (A)  was domiciled; or | 
      
      
        | 
           
			 | 
                           (B)  owned real property. | 
      
      
        | 
           
			 | 
               Sec. 240.103.  DISCLAIMER OF INTEREST IN TESTAMENTARY TRUST.   | 
      
      
        | 
           
			 | 
        In the case of an interest in a testamentary trust:  | 
      
      
        | 
           
			 | 
                     (1)  a disclaimer must be delivered to the trustee then  | 
      
      
        | 
           
			 | 
        serving; | 
      
      
        | 
           
			 | 
                     (2)  if no trustee is then serving, a disclaimer must be  | 
      
      
        | 
           
			 | 
        delivered to the personal representative of the decedent's estate;  | 
      
      
        | 
           
			 | 
        or  | 
      
      
        | 
           
			 | 
                     (3)  if no trustee or personal representative is then  | 
      
      
        | 
           
			 | 
        serving, a disclaimer must be filed in the official public records  | 
      
      
        | 
           
			 | 
        of the county in which the decedent: | 
      
      
        | 
           
			 | 
                           (A)  was domiciled; or | 
      
      
        | 
           
			 | 
                           (B)  owned real property. | 
      
      
        | 
           
			 | 
               Sec. 240.104.  DISCLAIMER OF INTEREST IN INTER VIVOS TRUST.   | 
      
      
        | 
           
			 | 
        In the case of an interest in an inter vivos trust: | 
      
      
        | 
           
			 | 
                     (1)  a disclaimer must be delivered to the trustee then  | 
      
      
        | 
           
			 | 
        serving, or, if no trustee is then serving, a disclaimer must be  | 
      
      
        | 
           
			 | 
        filed: | 
      
      
        | 
           
			 | 
                           (A)  with a court having jurisdiction to enforce  | 
      
      
        | 
           
			 | 
        the trust; or | 
      
      
        | 
           
			 | 
                           (B)  in the official public records of the county  | 
      
      
        | 
           
			 | 
        in which: | 
      
      
        | 
           
			 | 
                                 (i)  the situs of administration of the  | 
      
      
        | 
           
			 | 
        trust is maintained; or | 
      
      
        | 
           
			 | 
                                 (ii)  the settlor is domiciled or was  | 
      
      
        | 
           
			 | 
        domiciled at the date of the settlor's death; or  | 
      
      
        | 
           
			 | 
                     (2)  if a disclaimer is made before the time the  | 
      
      
        | 
           
			 | 
        instrument creating the trust becomes irrevocable, a disclaimer  | 
      
      
        | 
           
			 | 
        must be delivered to the settlor of a revocable trust or the  | 
      
      
        | 
           
			 | 
        transferor of the interest.  | 
      
      
        | 
           
			 | 
               Sec. 240.105.  DISCLAIMER OF INTEREST CREATED BY BENEFICIARY  | 
      
      
        | 
           
			 | 
        DESIGNATION.  (a)  In this section, "beneficiary designation" means  | 
      
      
        | 
           
			 | 
        an instrument, other than an instrument creating a trust, naming  | 
      
      
        | 
           
			 | 
        the beneficiary of: | 
      
      
        | 
           
			 | 
                     (1)  an annuity or insurance policy;  | 
      
      
        | 
           
			 | 
                     (2)  an account with a designation for payment on  | 
      
      
        | 
           
			 | 
        death;  | 
      
      
        | 
           
			 | 
                     (3)  a security registered in beneficiary form;  | 
      
      
        | 
           
			 | 
                     (4)  a pension, profit-sharing, retirement, or other  | 
      
      
        | 
           
			 | 
        employment-related benefit plan; or  | 
      
      
        | 
           
			 | 
                     (5)  any other nonprobate transfer at death.  | 
      
      
        | 
           
			 | 
               (b)  In the case of an interest created by a beneficiary  | 
      
      
        | 
           
			 | 
        designation that is disclaimed before the designation becomes  | 
      
      
        | 
           
			 | 
        irrevocable, the disclaimer must be delivered to the person making  | 
      
      
        | 
           
			 | 
        the beneficiary designation. | 
      
      
        | 
           
			 | 
               (c)  In the case of an interest created by a beneficiary  | 
      
      
        | 
           
			 | 
        designation that is disclaimed after the designation becomes  | 
      
      
        | 
           
			 | 
        irrevocable:  | 
      
      
        | 
           
			 | 
                     (1)  a disclaimer of an interest in personal property  | 
      
      
        | 
           
			 | 
        must be delivered to the person obligated to distribute the  | 
      
      
        | 
           
			 | 
        interest; and  | 
      
      
        | 
           
			 | 
                     (2)  a disclaimer of an interest in real property must  | 
      
      
        | 
           
			 | 
        be recorded in the official public records of the county where the  | 
      
      
        | 
           
			 | 
        real property that is the subject of the disclaimer is located.  | 
      
      
        | 
           
			 | 
               Sec. 240.106.  DISCLAIMER BY SURVIVING HOLDER OF  | 
      
      
        | 
           
			 | 
        SURVIVORSHIP PROPERTY.  In the case of a disclaimer by a surviving  | 
      
      
        | 
           
			 | 
        holder of survivorship property, the disclaimer must be delivered  | 
      
      
        | 
           
			 | 
        to the person to whom the disclaimed interest passes.  | 
      
      
        | 
           
			 | 
               Sec. 240.107.  DISCLAIMER OF CERTAIN POWERS OF APPOINTMENT.   | 
      
      
        | 
           
			 | 
        In the case of a disclaimer by an object or taker in default of  | 
      
      
        | 
           
			 | 
        exercise of a power of appointment at any time after the power was  | 
      
      
        | 
           
			 | 
        created:  | 
      
      
        | 
           
			 | 
                     (1)  the disclaimer must be delivered to the holder of  | 
      
      
        | 
           
			 | 
        the power or to the fiduciary acting under the instrument that  | 
      
      
        | 
           
			 | 
        created the power; or  | 
      
      
        | 
           
			 | 
                     (2)  if no fiduciary is then serving, a disclaimer must  | 
      
      
        | 
           
			 | 
        be filed: | 
      
      
        | 
           
			 | 
                           (A)  with a court having authority to appoint the  | 
      
      
        | 
           
			 | 
        fiduciary; or | 
      
      
        | 
           
			 | 
                           (B)  in the official public records of the county  | 
      
      
        | 
           
			 | 
        in which the creator of the power is domiciled or was domiciled at  | 
      
      
        | 
           
			 | 
        the date of the creator's death. | 
      
      
        | 
           
			 | 
               Sec. 240.108.  DISCLAIMER BY CERTAIN APPOINTEES.  In the  | 
      
      
        | 
           
			 | 
        case of a disclaimer by an appointee of a nonfiduciary power of  | 
      
      
        | 
           
			 | 
        appointment:  | 
      
      
        | 
           
			 | 
                     (1)  the disclaimer must be delivered to the holder,  | 
      
      
        | 
           
			 | 
        the personal representative of the holder's estate, or the  | 
      
      
        | 
           
			 | 
        fiduciary under the instrument that created the power; or  | 
      
      
        | 
           
			 | 
                     (2)  if no fiduciary is then serving, the disclaimer  | 
      
      
        | 
           
			 | 
        must be filed: | 
      
      
        | 
           
			 | 
                           (A)  with a court having authority to appoint the  | 
      
      
        | 
           
			 | 
        fiduciary; or | 
      
      
        | 
           
			 | 
                           (B)  in the official public records of the county  | 
      
      
        | 
           
			 | 
        in which the creator of the power is domiciled or was domiciled at  | 
      
      
        | 
           
			 | 
        the date of the creator's death.  | 
      
      
        | 
           
			 | 
               Sec. 240.109.  DISCLAIMER BY CERTAIN FIDUCIARIES.  In the  | 
      
      
        | 
           
			 | 
        case of a disclaimer by a fiduciary of a power over a trust or  | 
      
      
        | 
           
			 | 
        estate, the disclaimer must be delivered as provided by Section  | 
      
      
        | 
           
			 | 
        240.102, 240.103, or 240.104 as if the power disclaimed were an  | 
      
      
        | 
           
			 | 
        interest in property.  | 
      
      
        | 
           
			 | 
               Sec. 240.110.  DISCLAIMER OF POWER BY AGENT.  In the case of  | 
      
      
        | 
           
			 | 
        a disclaimer of a power by an agent, the disclaimer must be  | 
      
      
        | 
           
			 | 
        delivered to the principal or the principal's representative.  | 
      
      
        | 
           
			 | 
               Sec. 240.111.  RECORDING OF DISCLAIMER.  If an instrument  | 
      
      
        | 
           
			 | 
        transferring an interest in or power over property subject to a  | 
      
      
        | 
           
			 | 
        disclaimer is required or authorized by law to be filed, recorded,  | 
      
      
        | 
           
			 | 
        or registered, the disclaimer may be filed, recorded, or registered  | 
      
      
        | 
           
			 | 
        as that instrument.  Except as otherwise provided by Section  | 
      
      
        | 
           
			 | 
        240.105(c)(2), failure to file, record, or register the disclaimer  | 
      
      
        | 
           
			 | 
        does not affect the disclaimer's validity between the disclaimant  | 
      
      
        | 
           
			 | 
        and persons to whom the property interest or power passes by reason  | 
      
      
        | 
           
			 | 
        of the disclaimer.  | 
      
      
        | 
           
			 | 
        SUBCHAPTER D. DISCLAIMER BARRED OR LIMITED | 
      
      
        | 
           
			 | 
               Sec. 240.151.  WHEN DISCLAIMER BARRED OR LIMITED.  (a)  A  | 
      
      
        | 
           
			 | 
        disclaimer is barred by a written waiver of the right to disclaim. | 
      
      
        | 
           
			 | 
               (b)  A disclaimer of an interest in property is barred if any  | 
      
      
        | 
           
			 | 
        of the following events occur before the disclaimer becomes  | 
      
      
        | 
           
			 | 
        effective: | 
      
      
        | 
           
			 | 
                     (1)  the disclaimant accepts the interest sought to be  | 
      
      
        | 
           
			 | 
        disclaimed; | 
      
      
        | 
           
			 | 
                     (2)  the disclaimant voluntarily assigns, conveys,  | 
      
      
        | 
           
			 | 
        encumbers, pledges, or transfers the interest sought to be  | 
      
      
        | 
           
			 | 
        disclaimed or contracts to do so; or | 
      
      
        | 
           
			 | 
                     (3)  the interest sought to be disclaimed is sold under  | 
      
      
        | 
           
			 | 
        a judicial sale. | 
      
      
        | 
           
			 | 
               (c)  A disclaimer, in whole or in part, of the future  | 
      
      
        | 
           
			 | 
        exercise of a power held in a fiduciary capacity is not barred by  | 
      
      
        | 
           
			 | 
        the previous exercise of the power. | 
      
      
        | 
           
			 | 
               (d)  A disclaimer, in whole or in part, of the future  | 
      
      
        | 
           
			 | 
        exercise of a power not held in a fiduciary capacity is not barred  | 
      
      
        | 
           
			 | 
        by the previous exercise of the power unless the power is  | 
      
      
        | 
           
			 | 
        exercisable in favor of the disclaimant. | 
      
      
        | 
           
			 | 
               (e)  A disclaimer is barred or limited if provided by other  | 
      
      
        | 
           
			 | 
        law. | 
      
      
        | 
           
			 | 
               (f)  A disclaimer of: | 
      
      
        | 
           
			 | 
                     (1)  a power over property that is barred by this  | 
      
      
        | 
           
			 | 
        section is ineffective; and | 
      
      
        | 
           
			 | 
                     (2)  an interest in property that is barred by this  | 
      
      
        | 
           
			 | 
        section takes effect as a transfer of the interest disclaimed to the  | 
      
      
        | 
           
			 | 
        persons who would have taken the interest under Subchapter B had the  | 
      
      
        | 
           
			 | 
        disclaimer not been barred. | 
      
      
        | 
           
			 | 
               (g)  A disclaimer by a child support obligor is barred as to  | 
      
      
        | 
           
			 | 
        disclaimed property that could be applied to satisfy the  | 
      
      
        | 
           
			 | 
        disclaimant's child support obligations if those obligations have  | 
      
      
        | 
           
			 | 
        been: | 
      
      
        | 
           
			 | 
                     (1)  administratively determined by the Title IV-D  | 
      
      
        | 
           
			 | 
        agency as defined by Section 101.033, Family Code, in a Title IV-D  | 
      
      
        | 
           
			 | 
        case as defined by Section 101.034, Family Code; or | 
      
      
        | 
           
			 | 
                     (2)  confirmed and reduced to judgment as provided by  | 
      
      
        | 
           
			 | 
        Section 157.263, Family Code. | 
      
      
        | 
           
			 | 
               (h)  The child support obligee to whom child support  | 
      
      
        | 
           
			 | 
        arrearages are owed may enforce the child support obligation  | 
      
      
        | 
           
			 | 
        against the disclaimant as to disclaimed property by a lien or by  | 
      
      
        | 
           
			 | 
        any other remedy provided by law. | 
      
      
        | 
           
			 | 
               SECTION 2.  The heading to Chapter 122, Estates Code, is  | 
      
      
        | 
           
			 | 
        amended to read as follows: | 
      
      
        | 
           
			 | 
        CHAPTER 122.  [DISCLAIMERS AND] ASSIGNMENTS | 
      
      
        | 
           
			 | 
               SECTION 3.  Section 122.201, Estates Code, is amended to  | 
      
      
        | 
           
			 | 
        read as follows: | 
      
      
        | 
           
			 | 
               Sec. 122.201.  ASSIGNMENT.  A person who is entitled to  | 
      
      
        | 
           
			 | 
        receive property or an interest in property from a decedent under a  | 
      
      
        | 
           
			 | 
        will, by inheritance, or as a beneficiary under a life insurance  | 
      
      
        | 
           
			 | 
        contract, and does not disclaim the property under Chapter 240,  | 
      
      
        | 
           
			 | 
        Property Code, [this chapter] may assign the property or interest  | 
      
      
        | 
           
			 | 
        in property to any person. | 
      
      
        | 
           
			 | 
               SECTION 4.  Section 122.202, Estates Code, is amended to  | 
      
      
        | 
           
			 | 
        read as follows: | 
      
      
        | 
           
			 | 
               Sec. 122.202.  FILING OF ASSIGNMENT.  An assignment may, at  | 
      
      
        | 
           
			 | 
        the request of the assignor, be delivered or filed as provided for  | 
      
      
        | 
           
			 | 
        the delivery or filing of a disclaimer under Subchapter C, Chapter  | 
      
      
        | 
           
			 | 
        240, Property Code [B]. | 
      
      
        | 
           
			 | 
               SECTION 5.  Section 122.204, Estates Code, is amended to  | 
      
      
        | 
           
			 | 
        read as follows: | 
      
      
        | 
           
			 | 
               Sec. 122.204.  FAILURE TO COMPLY.  Failure to comply with  | 
      
      
        | 
           
			 | 
        Chapter 240, Property Code, [Subchapters A, B, C, and D] does not  | 
      
      
        | 
           
			 | 
        affect an assignment. | 
      
      
        | 
           
			 | 
               SECTION 6.  Section 122.205, Estates Code, is amended to  | 
      
      
        | 
           
			 | 
        read as follows: | 
      
      
        | 
           
			 | 
               Sec. 122.205.  GIFT.  An assignment under this chapter  | 
      
      
        | 
           
			 | 
        [subchapter] is a gift to the assignee and is not a disclaimer under  | 
      
      
        | 
           
			 | 
        Chapter 240, Property Code [Subchapters A, B, C, and D]. | 
      
      
        | 
           
			 | 
               SECTION 7.  Section 122.206, Estates Code, is amended to  | 
      
      
        | 
           
			 | 
        read as follows: | 
      
      
        | 
           
			 | 
               Sec. 122.206.  SPENDTHRIFT PROVISION.  An assignment of  | 
      
      
        | 
           
			 | 
        property or interest that would defeat a spendthrift provision  | 
      
      
        | 
           
			 | 
        imposed in a trust may not be made under this chapter [subchapter]. | 
      
      
        | 
           
			 | 
               SECTION 8.  The following provisions are repealed: | 
      
      
        | 
           
			 | 
                     (1)  Subchapters A, B, C, and D, Chapter 122, Estates  | 
      
      
        | 
           
			 | 
        Code; | 
      
      
        | 
           
			 | 
                     (2)  the heading to Subchapter E, Chapter 122, Estates  | 
      
      
        | 
           
			 | 
        Code; | 
      
      
        | 
           
			 | 
                     (3)  Section 122.203, Estates Code; and | 
      
      
        | 
           
			 | 
                     (4)  Sections 112.010(b), (c), (c-1), (c-2), (d), and  | 
      
      
        | 
           
			 | 
        (e), Property Code. | 
      
      
        | 
           
			 | 
               SECTION 9.  Title 13, Property Code, as added by this Act,  | 
      
      
        | 
           
			 | 
        applies to an interest in or power over property existing on or  | 
      
      
        | 
           
			 | 
        after the effective date of this Act if the time for delivering or  | 
      
      
        | 
           
			 | 
        filing a disclaimer under former law, including the time for filing  | 
      
      
        | 
           
			 | 
        a written memorandum of disclaimer under Section 122.055, Estates  | 
      
      
        | 
           
			 | 
        Code, or the time for delivering notice of the disclaimer under  | 
      
      
        | 
           
			 | 
        Section 122.056, Estates Code, as those sections existed  | 
      
      
        | 
           
			 | 
        immediately before the effective date of this Act, has not elapsed.   | 
      
      
        | 
           
			 | 
        If the time for filing or delivering notice of a written memorandum  | 
      
      
        | 
           
			 | 
        of disclaimer under former law has elapsed, the former law applies  | 
      
      
        | 
           
			 | 
        and is continued in effect for that purpose. | 
      
      
        | 
           
			 | 
               SECTION 10.  Chapter 122, Estates Code, as amended by this  | 
      
      
        | 
           
			 | 
        Act, applies to property or an interest in or power over property  | 
      
      
        | 
           		
			 | 
         | 
      
      
        | 
           
			 | 
        existing on or after the effective date of this Act if the time for  | 
      
      
        | 
           
			 | 
        delivering or filing an assignment under former law, including the  | 
      
      
        | 
           
			 | 
        time for filing an assignment under Section 122.202, Estates Code,  | 
      
      
        | 
           
			 | 
        or the time for delivering notice of the filing of assignment under  | 
      
      
        | 
           
			 | 
        Section 122.203, Estates Code, as those sections existed  | 
      
      
        | 
           
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        immediately before the effective date of this Act, has not elapsed.   | 
      
      
        | 
           
			 | 
        If the time for filing or delivering notice of an assignment under  | 
      
      
        | 
           
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        former law has elapsed, the former law applies and is continued in  | 
      
      
        | 
           
			 | 
        effect for that purpose. | 
      
      
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			 | 
               SECTION 11.  This Act takes effect September 1, 2015. |