Texas Property Code 112.011 – Posthumous Class Gifts Membership
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(a) A right to take as a member under a class gift does not accrue to any person unless the person is born before, or is in gestation at, the time of death of the person by which the class is measured and survives that person by at least 120 hours.
(b) For purposes of Subsection (a), a person is:
(1) considered to be in gestation if insemination or implantation occurs at or before the time of death of the person by which the class is measured; and
(2) presumed to be in gestation at the time of death of the person by which the class is measured if the person was born before the 301st day after the date of the person’s death.
Terms Used In Texas Property Code 112.011
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) A provision in the trust instrument that is contrary to this section prevails over this section.