Tex. Property Code § 240.0501
This is the official text of Tex. Property Code § 240.0501, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 240.0501. DEFINITION.
Official statutory text
In this subchapter, "future interest" means an interest that:
(1) takes effect in possession or enjoyment, if at all, later than the time at which the instrument creating the interest becomes irrevocable; and
(2) passes to the holder of the interest at the time of the event that causes the taker of the interest to be finally ascertained and the interest to be indefeasibly vested.
(1) takes effect in possession or enjoyment, if at all, later than the time at which the instrument creating the interest becomes irrevocable; and
(2) passes to the holder of the interest at the time of the event that causes the taker of the interest to be finally ascertained and the interest to be indefeasibly vested.
Status: in_force · Read it on the official government site
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