Texas Estates Code 113.207 – Liability for Payment From Joint Account After Death
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Terms Used In Texas Estates Code 113.207
- 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
- Devisee: includes a legatee. See Texas Estates Code 22.009
- Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - Heir: means a person who is entitled under the statutes of descent and distribution to a part of the estate of a decedent who dies intestate. See Texas Estates Code 22.015
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
A financial institution that pays an amount from a joint account to a surviving party to that account in accordance with a written agreement under § 113.151 is not liable to an heir, devisee, or beneficiary of the deceased party’s estate.