115.006 – CREDITOR CLAIMS; ALLOWANCES IN LIEU OF EXEMPT
Texas Estates Code § 115.006
Summary
This law addresses how creditor claims are handled when an owner's interest in a motor vehicle is transferred via a beneficiary designation. It aligns the treatment of such transfers with real property transfers under specific provisions, impacting beneficiaries and creditors involved in estate matters.
Applies to motor vehicle transfers by beneficiary designation.
Aligns with real property transfer rules under Chapter 114.
Affects creditors' claims against the transferred interests.
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In simple terms: Learn about Texas's CREDITOR CLAIMS; ALLOWANCES IN LIEU OF EXEMPT 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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