Texas Property Code 240.055 – Disclaimer by Appointee Of, or Object or Taker in Default of Exercise Of, Power of Appointment
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(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.
Terms Used In Texas Property Code 240.055
- Property: means real and personal property. See Texas Government Code 311.005