Tex. Property Code § 240.054
This is the official text of Tex. Property Code § 240.054, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 240.054. DISCLAIMER OF POWER OF APPOINTMENT OR OTHER POWER NOT HELD IN FIDUCIARY CAPACITY.
Official statutory text
(a) If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, this section applies.
(b) If the holder:
(1) has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable; or
(2) has exercised the power and the disclaimer is of a power other than a presently exercisable general power of appointment, the disclaimer takes effect immediately after the last exercise of the power.
(c) The instrument creating the power is construed as if the power had expired when the disclaimer became effective.
(b) If the holder:
(1) has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable; or
(2) has exercised the power and the disclaimer is of a power other than a presently exercisable general power of appointment, the disclaimer takes effect immediately after the last exercise of the power.
(c) The instrument creating the power is construed as if the power had expired when the disclaimer became effective.
Status: in_force · Read it on the official government site
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