Texas Estates Code 113.105 – Ownership of Convenience Account; Additions and Accruals
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(a) The making of a deposit in a convenience account does not affect the title to the deposit.
(b) A party to a convenience account is not considered to have made a gift of the deposit, or of any additions or accruals to the deposit, to a convenience signer.
Terms Used In Texas Estates Code 113.105
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
(c) An addition made to a convenience account by anyone other than a party, and accruals to the addition, are considered to have been made by a party.