Texas Estates Code 114.056 – Notice, Delivery, Acceptance, or Consideration Not Required
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Terms Used In Texas Estates Code 114.056
- 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
- Deed: The legal instrument used to transfer title in real property from one person to another.
A transfer on death deed is effective without:
(1) notice or delivery to or acceptance by the designated beneficiary during the transferor’s life; or
(2) consideration.