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2025 Texas Statutes
Property Code
Title 13 - Disclaimer of Property Interests
Chapter 240 - Texas Uniform Disclaimer of Property Interests Act
Subchapter B. Type and Effect of Disclaimer
Section 240.0501. Definition
Universal Citation:
TX Prop § 240.0501 (2025)
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Sec. 240.0501. DEFINITION. In this subchapter, "future interest" means an interest that:
(1) takes effect in possession or enjoyment, if at all, later than the time at which the instrument creating the interest becomes irrevocable; and
(2) passes to the holder of the interest at the time of the event that causes the taker of the interest to be finally ascertained and the interest to be indefeasibly vested.
Added by Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 15, eff. September 1, 2015.
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