Texas Estates Code 122.205 – Gift
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Terms Used In Texas Estates Code 122.205
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: means real and personal property. See Texas Government Code 311.005
An assignment under this subchapter is a gift to the assignee and is not a disclaimer under Chapter 240, Property Code.