Texas Estates Code 255.253 – Cash Distribution Not Included in Devise
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Terms Used In Texas Estates Code 255.253
- Devise: To gift property by will.
- Testator: A male person who leaves a will at death.
Unless the will of a testator clearly provides otherwise, a devise of securities does not include a cash distribution relating to the securities that accrues before the testator’s death, regardless of whether the distribution is paid before the testator’s death.