Texas Probate Code - Section 37C. Satisfaction Of Devise
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§ 37C. SATISFACTION OF DEVISE. (a) Property given to a
person by a testator during the testator's lifetime is considered a
satisfaction, either wholly or partly, of a devise to the person if:
(1) the testator's will provides for deduction of the
lifetime gift;
(2) the testator declares in a contemporaneous writing that
the lifetime gift is to be deducted from or is in satisfaction of
the devise; or
(3) the devisee acknowledges in writing that the lifetime
gift is in satisfaction of the devise.
(b) Property given in partial satisfaction of a devise shall
be valued as of the earlier of the date on which the devisee
acquires possession of or enjoys the property or the date on which
the testator dies.
Added by Acts 2003, 78th Leg., ch. 1060, § 7, eff. Sept. 1, 2003.
Section: 36C 36D 36E 36F 37 37A 37B 37C 38 39 40 41 42 43 44
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Last modified: August 10, 2007
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