Texas Estates Code 122.002 – Disclaimer
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Terms Used In Texas Estates Code 122.002
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Person: includes a natural person and a corporation. See Texas Estates Code 22.027
- Property: means real and personal property. See Texas Government Code 311.005
A person who may be entitled to receive property as a beneficiary may disclaim the person’s interest in or power over the property in accordance with Chapter 240, Property Code.