113.103 – OWNERSHIP OF P.O.D. ACCOUNT DURING ORIGINAL
Texas Estates Code § 113.103
Summary
This law clarifies that during the lifetime of the original payee of a Payable on Death (P.O.D.) account, the account remains the property of the original payee. It also states that if there are multiple original payees, their rights are governed by another specified section.
Original payee retains ownership during their lifetime.
P.O.D. payees have no rights while the original payee is alive.
Multiple original payees' rights are governed by Section 113.102.
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In simple terms: Learn about Texas's OWNERSHIP OF P.O.D. ACCOUNT DURING ORIGINAL law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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