- 18 - case can be narrowed particularly to application of the “different intent” exception. In construing provisions of the Texas Probate Code derived from the Uniform Probate Code, Texas courts have looked to corresponding provisions in the uniform act, considering the degree of textual similarity and taking guidance from the comments accompanying the uniform laws. See, e.g., Stegall v. Oadra, 868 S.W.2d 290, 293 (Tex. 1993); Stauffer v. Henderson, supra at 863; Dickerson v. Brooks, 727 S.W.2d 652, 654 (Tex. App. 1987). The language of TPC 438(a) is identical to that of Unif. Probate Code sec. 6-103(a) (1969 Act), 8 U.L.A. (Part II) 464 (1998), the attendant comment of which reads in relevant part: This section reflects the assumption that a person who deposits funds in a multiple-party account normally does not intend to make an irrevocable gift of all or any part of the funds represented by the deposit. Rather, he usually intends no present change of beneficial ownership. The assumption may be disproved by proof that a gift was intended. * * * It is important to note that the section is limited to describe ownership of an account while original parties are alive. Section 6-104 prescribes what happens to beneficial ownership on the death of a party. The section does not undertake to describe the situation between parties if one withdraws more than he is then entitled to as against the other party. Sections 6-108 and 6-112 protect a financial institution in such circumstances without reference to whether a withdrawing party may be entitled to less than he withdraws as against another party. Presumably, overwithdrawal leaves the party making the excessive withdrawal liable to the beneficial owner as a debtor or trustee. Of course, evidence of intention by one to make a gift to the other of any sums withdrawn by the other in excess of his ownership should be effective.Page: Previous 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Next
Last modified: May 25, 2011