113.151 – ESTABLISHMENT OF RIGHT OF SURVIVORSHIP IN JOINT
Texas Estates Code § 113.151
Summary
This law establishes that funds in a joint account belong to the surviving account holders upon the death of one party, provided there is a written agreement indicating survivorship. It affects individuals with joint accounts and their beneficiaries, clarifying ownership rights after death.
Funds in joint accounts pass to surviving parties upon death.
Requires a written agreement for survivorship rights.
Overrides other laws regarding joint account ownership.
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In simple terms: Learn about Texas's ESTABLISHMENT OF RIGHT OF SURVIVORSHIP IN JOINT 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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