Sec. 124.014. RECOVERY OF ESTATE TAX SHARE NOT WITHHELD. (a) If property includable in an estate does not come into possession of a representative obligated to pay the estate tax, the representative shall:
(1) recover from each person interested in the estate the amount of the estate tax apportioned to the person under this subchapter; or
(2) assign to persons affected by the tax obligation the representative's right of recovery.
(b) The obligation to recover a tax under Subsection (a) does not apply if:
(1) the duty is waived by the parties affected by the tax obligation or by the instrument under which the representative derives powers; or
(2) in the reasonable judgment of the representative, proceeding to recover the tax is not cost-effective.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Section: Previous 124.005 124.006 124.007 124.008 124.009 124.010 124.011 124.012 124.013 124.014 124.015 124.016 124.017 124.018 124.051 NextLast modified: September 28, 2016