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Texas Probate Code - Chapter XI Nontestamentary TransfersLegal Research Home > Texas Lawyer > Probate Code > Texas Probate Code - Chapter XI Nontestamentary Transfers Sponsored LinksIn this part: (1) "Account" means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings ... The provisions of Sections 438 through 440 of this code that concern beneficial ownership as between parties, or as between parties and P.O.D. payees or ... (a) A joint account belongs, during the lifetime of all parties, to the parties in proportion to the net contributions by each to the sums ... (a) If an account is established at a financial institution by one or more parties in the names of the parties and one or more ... (a) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties against the estate ... (a) A contract of deposit that contains provisions substantially the same as in the form provided by Subsection (b) of this section establishes the type ... The provisions of Section 439 of this code as to rights of survivorship are determined by the form of the account at the death of ... Transfers resulting from the application of Section 439 of this code are effective by reason of the account contracts involved and this statute and are ... No multiple-party account will be effective against an estate of a deceased party to transfer to a survivor sums needed to pay debts, taxes, and ... Sections 444 through 449 of this code govern the liability of financial institutions that make payments as provided in this chapter and the set-off rights ... Financial institutions may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. A multiple-party account may be paid, on ... Any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased ... A P.O.D. account may be paid, on request, to any original party to the account. Payment may be made, on request, to the P.O.D. payee ... A trust account may be paid, on request, to any trustee. Unless the financial institution has received written notice that the beneficiary has a vested ... Payment made as provided by Section 444, 445, 446, or 447 of this code discharges the financial institution from all claims for amounts so paid ... Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party to a multiple-party account is indebted ... (a) Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, deposit agreement, employees' trust, retirement account, deferred compensation ... At any time, spouses may agree between themselves that all or part of their community property, then existing or to be acquired, becomes the property ... An agreement between spouses creating a right of survivorship in community property must be in writing and signed by both spouses. If an agreement in ... Property subject to an agreement between spouses creating a right of survivorship in community property remains community property during the marriage of the spouses. Such ... Transfers at death resulting from agreements made in accordance with this part of this code are effective by reason of the agreement involved and are ... An agreement between spouses made in accordance with this part of this code may be revoked in accordance with the terms of the agreement. If ... (a) Application for Adjudication. An agreement between spouses creating a right of survivorship in community property that satisfies the requirements of this part is effective ... On completion of a hearing on an application under Section 456 of this code, if the court is satisfied that the requisite proof has been ... An agreement between spouses creating a right of survivorship in community property that satisfies the requirements of this code is effective and enforceable without an ... An original agreement creating a right of survivorship in community property that has been adjudicated together with the order adjudging it valid shall be deposited ... (a) Personal Representatives. If the personal representative of a decedent's estate has no actual knowledge of the existence of an agreement creating a right of ... The provisions of Part 1 of this chapter govern the rights of creditors in multiple-party accounts, as defined by Section 436 of Part 1. Except ... The provisions of Part 1 of this chapter apply to multiple-party accounts held by spouses with a right of survivorship to the extent that such ... Last modified: August 11, 2007 |