Tex. Property Code § 240.056
This is the official text of Tex. Property Code § 240.056, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 240.056. DISCLAIMER OF POWER HELD IN FIDUCIARY CAPACITY.
Official statutory text
(a) If a person designated to serve or serving as a fiduciary disclaims a power held or to be held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.
(b) If a person designated to serve or serving as a fiduciary disclaims a power held or to be held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.
(c) A disclaimer subject to this section is effective as to another person designated to serve or serving as a fiduciary if:
(1) the disclaimer provides that it is effective as to another person designated to serve or serving as a fiduciary; and
(2) the person disclaiming has the authority to bind the estate, trust, or other person for whom the person is acting.
(b) If a person designated to serve or serving as a fiduciary disclaims a power held or to be held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.
(c) A disclaimer subject to this section is effective as to another person designated to serve or serving as a fiduciary if:
(1) the disclaimer provides that it is effective as to another person designated to serve or serving as a fiduciary; and
(2) the person disclaiming has the authority to bind the estate, trust, or other person for whom the person is acting.
Status: in_force · Read it on the official government site
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