H.B. No. 2428

	AN ACT
	relating to the adoption of the Texas Uniform Disclaimer of
	Property Interests Act.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1.  Section 24.002(12), Business & Commerce Code, is
	amended to read as follows:
	(12)  "Transfer" means every mode, direct or indirect,
	absolute or conditional, voluntary or involuntary, of disposing of
	or parting with an asset or an interest in an asset, and includes
	payment of money, release, lease, and creation of a lien or other
	encumbrance. The term does not include a transfer under a
	disclaimer filed under Chapter 240, [Section 37A, Texas Probate
	Code, or Section 112.010,] Property Code.
	SECTION 2.  The heading to Subchapter A, Chapter 122,
	Estates Code, is amended to read as follows:
	SUBCHAPTER A. [GENERAL PROVISIONS RELATING TO] DISCLAIMER OF
	INTEREST OR POWER
	SECTION 3.  Sections 122.001 and 122.002, Estates Code, are
	amended to read as follows:
	Sec. 122.001.  DEFINITIONS. In this subchapter [chapter,
	other than Subchapter E]:
	(1)  "Beneficiary" includes a person who would have
	been entitled, if the person had not made a disclaimer, to receive
	property as a result of the death of another person:
	(A)  by inheritance;
	(B)  under a will;
	(C)  by an agreement between spouses for community
	property with a right of survivorship;
	(D)  by a joint tenancy with a right of
	survivorship;
	(E)  by a survivorship agreement, account, or
	interest in which the interest of the decedent passes to a surviving
	beneficiary;
	(F)  by an insurance, annuity, endowment,
	employment, deferred compensation, or other contract or
	arrangement; or
	(G)  under a pension, profit sharing, thrift,
	stock bonus, life insurance, survivor income, incentive, or other
	plan or program providing retirement, welfare, or fringe benefits
	with respect to an employee or a self-employed individual.
	(2)  "Disclaim" and "disclaimer" have the meanings
	assigned by Section 240.002, Property Code ["Disclaimer" includes
	renunciation].
	[(3)     "Property" includes all legal and equitable
	interests, powers, and property, present or future, vested or
	contingent, and beneficial or burdensome, in whole or in part.]
	Sec. 122.002.  DISCLAIMER [WHO MAY DISCLAIM]. [(a)] A
	person who may be entitled to receive property as a beneficiary may
	disclaim the person's interest in or power over the property in
	accordance with Chapter 240, Property Code [who on or after
	September 1, 1977, intends to irrevocably disclaim all or any part
	of the property shall evidence the disclaimer as provided by this
	chapter].
	[(b)     Subject to Subsection (c), the legally authorized
	representative of a person who may be entitled to receive property
	as a beneficiary who on or after September 1, 1977, intends to
	irrevocably disclaim all or any part of the property on the
	beneficiary's behalf shall evidence the disclaimer as provided by
	this chapter.
	[(c)     A disclaimer made by a legally authorized
	representative described by Subsection (d)(1), (2), or (3), other
	than an independent executor, must be made with prior court
	approval of the court that has or would have jurisdiction over the
	legally authorized representative.   A disclaimer made by an
	independent executor on behalf of a decedent may be made without
	prior court approval.
	[(d)     In this section, "legally authorized representative"
	means:
	[(1)     a guardian if the person entitled to receive the
	property as a beneficiary is an incapacitated person;
	[(2)     a guardian ad litem if the person entitled to
	receive the property as a beneficiary is an unborn or unascertained
	person;
	[(3)     a personal representative, including an
	independent executor, if the person entitled to receive the
	property as a beneficiary is a decedent; or
	[(4)     an attorney in fact or agent appointed under a
	durable power of attorney authorizing disclaimers if the person
	entitled to receive the property as a beneficiary executed the
	power of attorney as a principal.]
	SECTION 4.  Section 122.201, Estates Code, is amended to
	read as follows:
	Sec. 122.201.  ASSIGNMENT. A person who is entitled to
	receive property or an interest in property from a decedent under a
	will, by inheritance, or as a beneficiary under a life insurance
	contract, and does not disclaim the property under Chapter 240,
	Property Code, [this chapter] may assign the property or interest
	in property to any person.
	SECTION 5.  Section 122.202, Estates Code, is amended to
	read as follows:
	Sec. 122.202.  FILING OF ASSIGNMENT. An assignment may, at
	the request of the assignor, be delivered or filed as provided for
	the delivery or filing of a disclaimer under Subchapter C, Chapter
	240, Property Code [B].
	SECTION 6.  Section 122.204, Estates Code, is amended to
	read as follows:
	Sec. 122.204.  FAILURE TO COMPLY. Failure to comply with
	Chapter 240, Property Code, [Subchapters A, B, C, and D] does not
	affect an assignment.
	SECTION 7.  Section 122.205, Estates Code, is amended to
	read as follows:
	Sec. 122.205.  GIFT. An assignment under this subchapter is
	a gift to the assignee and is not a disclaimer under Chapter 240,
	Property Code [Subchapters A, B, C, and D].
	SECTION 8.  Section 124.004, Estates Code, is amended to
	read as follows:
	Sec. 124.004.  EFFECT OF DISCLAIMERS. This subchapter shall
	be applied after giving effect to any disclaimers made in
	accordance with Chapter 240, Property Code [Subchapters A, B, C,
	and D, Chapter 122].
	SECTION 9.  Section 814.005(a), Government Code, is amended
	to read as follows:
	(a)  A person may, on a form prescribed by and filed with the
	retirement system, waive all or a portion of any benefits from the
	retirement system to which the person is entitled. The retirement
	system also shall give effect as a waiver to a full or partial
	disclaimer executed in accordance with Chapter 240, Property
	[Section 37A, Texas Probate] Code, unless the benefit to be
	disclaimed is a lifetime annuity. A person may revoke a waiver of
	benefits in the same manner as the original waiver was made, unless
	the original waiver by its terms was made irrevocable.
	SECTION 10.  Section 834.005, Government Code, is amended to
	read as follows:
	Sec. 834.005.  DISCLAIMER OF BENEFITS. The retirement
	system shall give effect to a full or partial disclaimer of benefits
	executed in accordance with Chapter 240, Property [Section 37A,
	Texas Probate] Code, unless the benefit to be disclaimed is a
	lifetime annuity.
	SECTION 11.  Section 839.004, Government Code, is amended to
	read as follows:
	Sec. 839.004.  DISCLAIMER OF BENEFITS. The retirement
	system shall give effect to a full or partial disclaimer of benefits
	executed in accordance with Chapter 240, Property [Section 37A,
	Texas Probate] Code, unless the benefit to be disclaimed is a
	lifetime annuity.
	SECTION 12.  Section 1551.259(e), Insurance Code, is amended
	to read as follows:
	(e)  The board of trustees shall give effect to a full or
	partial disclaimer of benefits executed in accordance with Chapter
	240, Property [Section 37A, Texas Probate] Code.
	SECTION 13.  The heading to Section 112.010, Property Code,
	is amended to read as follows:
	Sec. 112.010.  PRESUMED ACCEPTANCE [OR DISCLAIMER] BY [OR ON
	BEHALF OF] BENEFICIARY; DISCLAIMER.
	SECTION 14.  Section 112.010(b), Property Code, is amended
	to read as follows:
	(b)  A disclaimer of an interest in or power over trust
	property is governed by Chapter 240 [If a trust is created by will,
	a beneficiary may disclaim an interest in the manner and with the
	effect for which provision is made in the applicable probate law].
	SECTION 15.  The Property Code is amended by adding Title 13
	to read as follows:
	TITLE 13. DISCLAIMER OF PROPERTY INTERESTS
	CHAPTER 240. TEXAS UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT
	SUBCHAPTER A. GENERAL PROVISIONS
	Sec. 240.001.  SHORT TITLE. This chapter may be cited as the
	Texas Uniform Disclaimer of Property Interests Act.
	Sec. 240.002.  DEFINITIONS. In this chapter:
	(1)  "Current beneficiary" and "presumptive remainder
	beneficiary" have the meanings assigned by Section 112.071.
	(2)  "Disclaim" means to refuse to accept an interest
	in or power over property, including an interest or power the person
	is entitled to:
	(A)  by inheritance;
	(B)  under a will;
	(C)  by an agreement between spouses for community
	property with a right of survivorship;
	(D)  by a joint tenancy with a right of
	survivorship;
	(E)  by a survivorship agreement, account, or
	interest in which the interest of the decedent passes to a surviving
	beneficiary;
	(F)  by an insurance, annuity, endowment,
	employment, deferred compensation, or other contract or
	arrangement;
	(G)  under a pension, profit sharing, thrift,
	stock bonus, life insurance, survivor income, incentive, or other
	plan or program providing retirement, welfare, or fringe benefits
	with respect to an employee or a self-employed individual; or
	(H)  by an instrument creating a trust.
	(3)  "Disclaimant" means:
	(A)  the person to whom a disclaimed interest or
	power would have passed had the disclaimer not been made;
	(B)  the estate to which a disclaimed interest or
	power would have passed had the disclaimer not been made by the
	personal representative of the estate; or
	(C)  the trust into which a disclaimed interest or
	power would have passed had the disclaimer not been made by the
	trustee of the trust.
	(4)  "Disclaimed interest" means the interest that
	would have passed to the disclaimant had the disclaimer not been
	made.
	(5)  "Disclaimed power" means the power that would have
	been possessed by the disclaimant had the disclaimer not been made.
	(6)  "Disclaimer" means the refusal to accept an
	interest in or power over property.
	(7)  "Estate" has the meaning assigned by Section
	22.012, Estates Code.
	(8)  "Fiduciary" means a personal representative, a
	trustee, an attorney in fact or agent acting under a power of
	attorney, or any other person authorized to act as a fiduciary with
	respect to the property of another person.
	(9)  "Guardian" has the meaning assigned by Section
	1002.012, Estates Code.
	(10)  Notwithstanding Section 311.005, Government
	Code, "person" means an individual, corporation, including a public
	corporation, business trust, partnership, limited liability
	company, association, joint venture, governmental entity,
	including a political subdivision, agency, or instrumentality, or
	any other legal entity.
	(11)  "Personal representative" has the meanings
	assigned by Sections 22.031 and 1002.028, Estates Code.
	(12)  "State" means a state of the United States, the
	District of Columbia, Puerto Rico, the United States Virgin
	Islands, or any territory or insular possession subject to the
	jurisdiction of the United States. The term includes an Indian
	tribe or band, or Alaskan native village, recognized by federal law
	or formally acknowledged by a state.
	(13)  "Survivorship property" means property held in
	the name of two or more persons under an arrangement in which, on
	the death of one of the persons, the property passes to and is
	vested in the other person or persons. The term includes:
	(A)  property held by an agreement described in
	Section 111.001, Estates Code;
	(B)  property held by a community property
	survivorship agreement defined in Section 112.001, Estates Code;
	and
	(C)  property in a joint account held by an
	agreement described in Section 113.151, Estates Code.
	(14)  "Trust" has the meaning assigned by Section
	111.003.
	(15)  "Ward" has the meaning assigned by Section
	22.033, Estates Code.
	Sec. 240.003.  APPLICABILITY OF CHAPTER. This chapter
	applies to disclaimers of any interest in or power over property,
	whenever created.
	Sec. 240.004.  CHAPTER SUPPLEMENTED BY OTHER LAW. (a)
	Unless displaced by a provision of this chapter, the principles of
	law and equity supplement this chapter.
	(b)  This chapter does not limit any right of a person to
	waive, release, disclaim, or renounce an interest in or power over
	property under a statute other than this chapter.
	Sec. 240.005.  UNIFORMITY OF APPLICATION AND CONSTRUCTION.
	In applying and construing this chapter, consideration must be
	given to the need to promote uniformity of the law, with respect to
	the subject matter of this chapter, among states that enact a law
	based on the uniform act on which this chapter is based.
	Sec. 240.006.  POWER TO DISCLAIM BY PERSON OTHER THAN
	FIDUCIARY. (a) A person other than a fiduciary may disclaim, in
	whole or in part, any interest in or power over property, including
	a power of appointment.
	(b)  A person other than a fiduciary may disclaim an interest
	or power under this section even if the creator of the interest or
	power imposed a spendthrift provision or similar restriction on
	transfer or a restriction or limitation on the right to disclaim.
	Sec. 240.007.  POWER TO DISCLAIM POWER HELD IN FIDUCIARY
	CAPACITY BY PERSON DESIGNATED TO SERVE AS OR SERVING AS FIDUCIARY.
	(a) Subject to Subsection (b) and except to the extent the person's
	right to disclaim is expressly restricted or limited by a law of
	this state or by the instrument creating the fiduciary
	relationship, a person designated to serve or serving as a
	fiduciary may disclaim, in whole or in part, any power over
	property, including a power of appointment and the power to
	disclaim, held in a fiduciary capacity.
	(b)  If a power being disclaimed under Subsection (a) by a
	person designated to serve or serving as a trustee affects the
	distributive rights of any beneficiary of the trust:
	(1)  the person may disclaim only on or after accepting
	the trust;
	(2)  the disclaimer must be compatible with the
	trustee's fiduciary obligations; and
	(3)  if the disclaimer is made on accepting the trust,
	the trustee is considered to have never possessed the power
	disclaimed.
	(c)  A person designated to serve or serving as a fiduciary
	may disclaim a power under this section even if the creator of the
	power imposed a spendthrift provision or similar restriction on
	transfer.
	Sec. 240.008.  POWER TO DISCLAIM BY FIDUCIARY ACTING IN
	FIDUCIARY CAPACITY. (a) Subject to this section and except to the
	extent the fiduciary's right to disclaim is expressly restricted or
	limited by a law of this state or by the instrument creating the
	fiduciary relationship, a fiduciary acting in a fiduciary capacity
	may disclaim, in whole or in part, any interest in or power over
	property, including a power of appointment and the power to
	disclaim, that would have passed to the ward, estate, trust, or
	principal with respect to which the fiduciary was acting had the
	disclaimer not been made even if:
	(1)  the creator of the interest or power imposed a
	spendthrift provision or similar restriction on transfer or a
	restriction or limitation on the right to disclaim; or
	(2)  an instrument other than the instrument that
	created the fiduciary relationship imposed a restriction or
	limitation on the right to disclaim.
	(b)  Except as provided by Subsection (c), (d), or (f), a
	disclaimer by a fiduciary acting in a fiduciary capacity does not
	require court approval to be effective unless the instrument that
	created the fiduciary relationship requires court approval.
	(c)  The following disclaimers by a fiduciary acting in a
	fiduciary capacity are not effective unless approved by a court of
	competent jurisdiction:
	(1)  a disclaimer by a personal representative who is
	not an independent administrator or independent executor;
	(2)  a disclaimer by the trustee of a management trust
	created under Chapter 1301, Estates Code;
	(3)  a disclaimer by the trustee of a trust created
	under Section 142.005; or
	(4)  a disclaimer that would result in an interest in or
	power over property passing to the person making the disclaimer.
	(d)  A trustee acting in a fiduciary capacity may not
	disclaim an interest in property that would cause the interest in
	property not to become trust property unless:
	(1)  a court of competent jurisdiction approves the
	disclaimer; or
	(2)  the trustee provides written notice of the
	disclaimer in accordance with Section 240.0081.
	(e)  In the absence of a court-appointed guardian, without
	court approval, a natural guardian as described by Section
	1104.051, Estates Code, may disclaim on behalf of a minor child of
	the natural guardian, in whole or in part, any interest in or power
	over property, including a power of appointment, that the minor
	child is to receive solely as a result of another disclaimer, but
	only if the disclaimed interest or power does not pass to or for the
	benefit of the natural guardian as a result of the disclaimer.
	(f)  Unless a court of competent jurisdiction approves the
	disclaimer, a disclaimer by a fiduciary acting in a fiduciary
	capacity must be compatible with the fiduciary's fiduciary
	obligations. A disclaimer by a fiduciary acting in a fiduciary
	capacity is not a per se breach of the fiduciary's fiduciary
	obligations.
	(g)  Possible remedies for a breach of fiduciary obligations
	do not include declaring an otherwise effective disclaimer void or
	granting other legal or equitable relief that would make the
	disclaimer ineffective.
	Sec. 240.0081.  NOTICE REQUIRED BY TRUSTEE DISCLAIMING
	CERTAIN INTERESTS IN PROPERTY; EFFECT OF NOTICE. (a)  A trustee
	acting in a fiduciary capacity may disclaim an interest in property
	that would cause the interest in property not to become trust
	property without court approval if the trustee provides written
	notice of the disclaimer to all of the current beneficiaries and
	presumptive remainder beneficiaries of the trust.
	(b)  For the purpose of determining who is a current
	beneficiary or presumptive remainder beneficiary entitled to the
	notice under Subsection (a), a beneficiary is determined as of the
	date the notice is sent.
	(c)  In addition to the notice required under Subsection (a),
	the trustee shall give written notice of the trustee's disclaimer
	to the attorney general if:
	(1)  a charity is entitled to notice;
	(2)  a charity entitled to notice is no longer in
	existence;
	(3)  the trustee has the authority to distribute trust
	assets to one or more charities that are not named in the trust
	instrument; or
	(4)  the trustee has the authority to make
	distributions for a charitable purpose described in the trust
	instrument, but no charity is named as a beneficiary for that
	purpose.
	(d)  If the beneficiary has a court-appointed guardian or
	conservator, the notice required to be given by this section must be
	given to that guardian or conservator.  If the beneficiary is a
	minor for whom no guardian or conservator has been appointed, the
	notice required to be given by this section must be given to a
	parent of the minor.
	(e)  The trustee is not required to provide the notice to a
	beneficiary who:
	(1)  is known to the trustee and cannot be located by
	the trustee after reasonable diligence;
	(2)  is not known to the trustee;
	(3)  waives the requirement of the notice under this
	section; or
	(4)  is a descendant of a beneficiary to whom the
	trustee has given notice if the beneficiary and the beneficiary's
	ancestor have similar interests in the trust and no apparent
	conflict of interest exists between them.
	(f)  The notice required under Subsection (a) must:
	(1)  include a statement that:
	(A)  the trustee intends to disclaim an interest
	in property;
	(B)  if the trustee makes the disclaimer, the
	property will not become trust property and will not be available to
	distribute to the beneficiary from the trust;
	(C)  the beneficiary has the right to object to
	the disclaimer; and
	(D)  the beneficiary may petition a court to
	approve, modify, or deny the disclaimer;
	(2)  describe the interest in property the trustee
	intends to disclaim;
	(3)  specify the earliest date the trustee intends to
	make the disclaimer;
	(4)  include the name and mailing address of the
	trustee;
	(5)  be given not later than the 30th day before the
	date the disclaimer is made; and
	(6)  be sent by personal delivery, first-class mail,
	facsimile, e-mail, or any other method likely to result in the
	notice's receipt.
	(g)  A beneficiary is not considered to have accepted the
	disclaimed interest solely because the beneficiary acts or does not
	act on receipt of a notice provided under this section.
	(h)  If the trustee makes the disclaimer for which notice is
	provided under this section, the beneficiary does not lose the
	beneficiary's right, if any, to sue the trustee for breach of the
	trustee's fiduciary obligations in connection with making the
	disclaimer. Section 240.008(g) applies to remedies sought in
	connection with the alleged breach.
	Sec. 240.009.  POWER TO DISCLAIM; GENERAL REQUIREMENTS; WHEN
	IRREVOCABLE. (a) To be effective, a disclaimer must:
	(1)  be in writing;
	(2)  declare the disclaimer;
	(3)  describe the interest or power disclaimed;
	(4)  be signed by the person making the disclaimer; and
	(5)  be delivered or filed in the manner provided by
	Subchapter C.
	(b)  A partial disclaimer may be expressed as a fraction,
	percentage, monetary amount, term of years, limitation of a power,
	or any other interest or estate in the property.
	(c)  A disclaimer is irrevocable on the later of the date the
	disclaimer:
	(1)  is delivered or filed under Subchapter C; or
	(2)  takes effect as provided in Sections
	240.051-240.056.
	(d)  A disclaimer made under this chapter is not a transfer,
	assignment, or release.
	SUBCHAPTER B. TYPE AND EFFECT OF DISCLAIMER
	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.
	Sec. 240.051.  DISCLAIMER OF INTEREST IN PROPERTY. (a) This
	section and Sections 240.0511 and 240.0512 apply to a disclaimer of
	an interest in property other than a disclaimer subject to Section
	240.052 or 240.053.
	(b)  If an interest in property passes because of the death
	of a decedent:
	(1)  a disclaimer of the interest:
	(A)  takes effect as of the time of the decedent's
	death; and
	(B)  relates back for all purposes to the time of
	the decedent's death; and
	(2)  the disclaimed interest is not subject to the
	claims of any creditor of the disclaimant.
	(c)  If an interest in property passes because of an event
	not related to the death of a decedent:
	(1)  a disclaimer of the interest:
	(A)  takes effect:
	(i)  as of the time the instrument creating
	the interest became irrevocable; or
	(ii)  in the case of an irrevocable transfer
	made without an instrument, at the time of the irrevocable
	transfer; and
	(B)  relates back for all purposes to the time the
	instrument became irrevocable or the time of the irrevocable
	transfer, as applicable; and
	(2)  the disclaimed interest is not subject to the
	claims of any creditor of the disclaimant.
	(d)  A disclaimed interest passes according to any provision
	in the instrument creating the interest that provides for:
	(1)  the disposition of the interest if the interest
	were to be disclaimed; or
	(2)  the disposition of disclaimed interests in
	general.
	(e)  If the instrument creating the disclaimed interest does
	not contain a provision described by Subsection (d) and:
	(1)  if the disclaimant is not an individual, the
	disclaimed interest passes as if the disclaimant did not exist; or
	(2)  if the disclaimant is an individual:
	(A)  except as provided by Section 240.0511, if
	the interest is passing because of the death of a decedent, the
	disclaimed interest passes as if the disclaimant had died
	immediately before the time as of which the disclaimer takes effect
	under Subsection (b); or
	(B)  except as provided by Section 240.0512, if
	the interest is passing because of an event not related to the death
	of a decedent, the disclaimed interest passes as if the disclaimant
	had died immediately before the time as of which the disclaimer
	takes effect under Subsection (c).
	(f)  A disclaimed interest that passes by intestacy passes as
	if the disclaimant died immediately before the decedent.
	Sec. 240.0511.  DISPOSITION OF INTEREST PASSING BECAUSE OF
	DECEDENT'S DEATH AND DISCLAIMED BY INDIVIDUAL.  (a)  Subject to
	Subsection (b):
	(1)  if by law or under the instrument creating the
	disclaimed interest the descendants of a disclaimant of an interest
	passing because of the death of a decedent would share in the
	disclaimed interest by any method of representation under Section
	240.051(e)(2)(A), the disclaimed interest passes only to the
	descendants of the disclaimant who survive the decedent; or
	(2)  if the disclaimed interest would have passed to
	the disclaimant's estate under Section 240.051(e)(2)(A), the
	disclaimed interest instead passes by representation to the
	descendants of the disclaimant who survive the decedent.
	(b)  If no descendant of the disclaimant survives the
	decedent, the disclaimed interest passes to those persons,
	including the state but excluding the disclaimant, and in such
	shares as would succeed to the transferor's intestate estate under
	the intestate succession law of the transferor's domicile had the
	transferor died immediately before the decedent, except that if the
	transferor's surviving spouse is living but remarried before the
	decedent's death, the transferor is considered to have died
	unmarried immediately before the decedent's death.
	(c)  On the disclaimer of a preceding interest, a future
	interest held by a person other than the disclaimant takes effect as
	if the disclaimant had died immediately before the decedent, but a
	future interest held by the disclaimant is not accelerated in
	possession or enjoyment.
	Sec. 240.0512.  DISPOSITION OF INTEREST PASSING BECAUSE OF
	EVENT OTHER THAN DECEDENT'S DEATH AND DISCLAIMED BY INDIVIDUAL.
	(a)  Subject to Subsection (b):
	(1)  if by law or under the instrument creating the
	disclaimed interest the descendants of a disclaimant of an interest
	passing because of an event not related to the death of a decedent
	would share in the disclaimed interest by any method of
	representation under Section 240.051(e)(2)(B), the disclaimed
	interest passes only to the descendants of the disclaimant living
	at the time of the event that causes the interest to pass; or
	(2)  if the disclaimed interest would have passed to
	the disclaimant's estate under Section 240.051(e)(2)(B), the
	disclaimed interest instead passes by representation to the
	descendants of the disclaimant living at the time of the event that
	causes the interest to pass.
	(b)  If no descendant of the disclaimant is living at the
	time of the event described by Subsection (a)(1), the disclaimed
	interest passes to those persons, including the state but excluding
	the disclaimant, and in such shares as would succeed to the
	transferor's intestate estate under the intestate succession law of
	the transferor's domicile had the transferor died immediately
	before the event described by Subsection (a)(1), except that if the
	transferor's surviving spouse is living but remarried before the
	event, the transferor is considered to have died unmarried
	immediately before the event.
	(c)  On the disclaimer of a preceding interest, a future
	interest held by a person other than the disclaimant takes effect as
	if the disclaimant had died immediately before the time the
	disclaimer takes effect under Section 240.051(c)(1)(A), but a
	future interest held by the disclaimant is not accelerated in
	possession or enjoyment.
	Sec. 240.052.  DISCLAIMER OF RIGHTS IN SURVIVORSHIP
	PROPERTY. (a) On the death of a holder of survivorship property, a
	surviving holder may disclaim, in whole or in part, an interest in
	the property of the deceased holder that would have otherwise
	passed to the surviving holder by reason of the deceased holder's
	death.
	(b)  If an interest in survivorship property is disclaimed by
	a surviving holder of the property:
	(1)  the disclaimer:
	(A)  takes effect as of the time of the deceased
	holder's death; and
	(B)  relates back for all purposes to the time of
	the deceased holder's death; and
	(2)  the disclaimed interest is not subject to the
	claims of any creditor of the disclaimant.
	(c)  An interest in survivorship property disclaimed by a
	surviving holder of the property passes as if the disclaimant
	predeceased the holder to whose death the disclaimer relates.
	Sec. 240.053.  DISCLAIMER OF INTEREST BY TRUSTEE. (a)  If a
	trustee disclaims an interest in property that otherwise would have
	become trust property:
	(1)  the interest does not become trust property;
	(2)  the disclaimer:
	(A)  takes effect as of the time the trust became
	irrevocable; and
	(B)  relates back for all purposes to the time the
	trust became irrevocable; and
	(3)  the disclaimed interest is not subject to the
	claims of any creditor of the trustee, the trust, or any trust
	beneficiary.
	(b)  If the instrument creating the disclaimed interest
	contains a provision that provides for the disposition of the
	interest if the interest were to be disclaimed, the disclaimed
	interest passes according to that provision.
	(c)  If the instrument creating the disclaimed interest does
	not contain a provision described by Subsection (b), the disclaimed
	interest passes as if:
	(1)  all of the current beneficiaries, presumptive
	remainder beneficiaries, and contingent beneficiaries of the trust
	affected by the disclaimer who are individuals died before the
	trust became irrevocable; and
	(2)  all beneficiaries of the trust affected by the
	disclaimer who are not individuals ceased to exist without
	successor organizations and without substitution of beneficiaries
	under the cy pres doctrine before the trust became irrevocable.
	(d)  Subsection (c) applies only for purposes of determining
	the disposition of an interest in property disclaimed by a trustee
	that otherwise would have become trust property and applies only
	with respect to the trust affected by the disclaimer. Subsection
	(c) does not apply with respect to other trusts governed by the
	instrument and does not apply for other purposes under the
	instrument or under the laws of intestacy.
	Sec. 240.054.  DISCLAIMER OF POWER OF APPOINTMENT OR OTHER
	POWER NOT HELD IN FIDUCIARY CAPACITY. (a) If a holder disclaims a
	power of appointment or other power not held in a fiduciary
	capacity, this section applies.
	(b)  If the holder:
	(1)  has not exercised the power, the disclaimer takes
	effect as of the time the instrument creating the power becomes
	irrevocable; or
	(2)  has exercised the power and the disclaimer is of a
	power other than a presently exercisable general power of
	appointment, the disclaimer takes effect immediately after the last
	exercise of the power.
	(c)  The instrument creating the power is construed as if the
	power had expired when the disclaimer became effective.
	Sec. 240.055.  DISCLAIMER BY APPOINTEE OF, OR OBJECT OR
	TAKER IN DEFAULT OF EXERCISE OF, POWER OF APPOINTMENT. (a) A
	disclaimer of an interest in property by an appointee of a power of
	appointment takes effect as of the time the instrument by which the
	holder exercises the power becomes irrevocable.
	(b)  A disclaimer of an interest in property by an object or
	taker in default of an exercise of a power of appointment takes
	effect as of the time the instrument creating the power becomes
	irrevocable.
	Sec. 240.056.  DISCLAIMER OF POWER HELD IN FIDUCIARY
	CAPACITY. (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.
	Sec. 240.057.  TAX QUALIFIED DISCLAIMER. (a)  In this
	section, "Internal Revenue Code" has the meaning assigned by
	Section 111.004.
	(b)  Notwithstanding any other provision of this chapter,
	if, as a result of a disclaimer or transfer, the disclaimed or
	transferred interest is treated under the Internal Revenue Code as
	never having been transferred to the disclaimant, the disclaimer or
	transfer is effective as a disclaimer under this chapter.
	Sec. 240.058.  PARTIAL DISCLAIMER BY SPOUSE. A disclaimer
	by a decedent's surviving spouse of an interest in property
	transferred as the result of the death of the decedent is not a
	disclaimer by the surviving spouse of any other transfer from the
	decedent to or for the benefit of the surviving spouse, regardless
	of whether the interest that would have passed under the disclaimed
	transfer passes because of the disclaimer to or for the benefit of
	the surviving spouse by the other transfer.
	SUBCHAPTER C.  DELIVERY OR FILING
	Sec. 240.101.  DELIVERY OR FILING GENERALLY. (a) Subject to
	applicable requirements of this subchapter, a disclaimant may
	deliver a disclaimer by personal delivery, first-class mail,
	facsimile, e-mail, or any other method likely to result in the
	disclaimer's receipt.
	(b)  If a disclaimer is mailed to the intended recipient by
	certified mail, return receipt requested, at an address the
	disclaimant in good faith believes is likely to result in the
	disclaimer's receipt, delivery is considered to have occurred on
	the date of mailing regardless of receipt.
	Sec. 240.102.  DISCLAIMER OF INTEREST CREATED UNDER
	INTESTATE SUCCESSION OR WILL. In the case of an interest created
	under the law of intestate succession or an interest created by
	will, other than an interest in a testamentary trust:
	(1)  a disclaimer must be delivered to the personal
	representative of the decedent's estate; or
	(2)  if no personal representative is then serving, a
	disclaimer must be filed in the official public records of any
	county in which the decedent:
	(A)  was domiciled on the date of the decedent's
	death; or
	(B)  owned real property.
	Sec. 240.103.  DISCLAIMER OF INTEREST IN TESTAMENTARY TRUST.
	In the case of an interest in a testamentary trust:
	(1)  a disclaimer must be delivered to the trustee then
	serving;
	(2)  if no trustee is then serving, a disclaimer must be
	delivered to the personal representative of the decedent's estate;
	or
	(3)  if no trustee or personal representative is then
	serving, a disclaimer must be filed in the official public records
	of any county in which the decedent:
	(A)  was domiciled on the date of the decedent's
	death; or
	(B)  owned real property.
	Sec. 240.104.  DISCLAIMER OF INTEREST IN INTER VIVOS TRUST.
	In the case of an interest in an inter vivos trust:
	(1)  a disclaimer must be delivered to the trustee then
	serving, or, if no trustee is then serving, a disclaimer must be
	filed:
	(A)  with a court having jurisdiction to enforce
	the trust; or
	(B)  in the official public records of the county
	in which:
	(i)  the situs of administration of the
	trust is maintained; or
	(ii)  the settlor is domiciled or was
	domiciled on the date of the settlor's death; and
	(2)  if a disclaimer is made before the time the
	instrument creating the trust becomes irrevocable, a disclaimer
	must be delivered to the settlor of a revocable trust or the
	transferor of the interest.
	Sec. 240.105.  DISCLAIMER OF INTEREST CREATED BY BENEFICIARY
	DESIGNATION. (a) In this section, "beneficiary designation" means
	an instrument, other than an instrument creating a trust, naming
	the beneficiary of:
	(1)  an annuity or insurance policy;
	(2)  an account with a designation for payment on
	death;
	(3)  a security registered in beneficiary form;
	(4)  a pension, profit-sharing, retirement, or other
	employment-related benefit plan; or
	(5)  any other nonprobate transfer at death.
	(b)  In the case of an interest created by a beneficiary
	designation that is disclaimed before the designation becomes
	irrevocable, the disclaimer must be delivered to the person making
	the beneficiary designation.
	(c)  In the case of an interest created by a beneficiary
	designation that is disclaimed after the designation becomes
	irrevocable:
	(1)  a disclaimer of an interest in personal property
	must be delivered to the person obligated to distribute the
	interest; and
	(2)  a disclaimer of an interest in real property must
	be recorded in the official public records of the county where the
	real property that is the subject of the disclaimer is located.
	Sec. 240.106.  DISCLAIMER BY SURVIVING HOLDER OF
	SURVIVORSHIP PROPERTY. In the case of a disclaimer by a surviving
	holder of survivorship property, the disclaimer must be delivered
	to the person to whom the disclaimed interest passes.
	Sec. 240.107.  DISCLAIMER BY OBJECT OR TAKER IN DEFAULT OF
	EXERCISE OF POWER OF APPOINTMENT. In the case of a disclaimer by an
	object or taker in default of an exercise of a power of appointment
	at any time after the power was created:
	(1)  the disclaimer must be delivered to the holder of
	the power or to the fiduciary acting under the instrument that
	created the power; or
	(2)  if no fiduciary is then serving, the disclaimer
	must be filed:
	(A)  with a court having authority to appoint the
	fiduciary; or
	(B)  in the official public records of the county
	in which the creator of the power is domiciled or was domiciled on
	the date of the creator's death.
	Sec. 240.108.  DISCLAIMER BY CERTAIN APPOINTEES. In the
	case of a disclaimer by an appointee of a nonfiduciary power of
	appointment:
	(1)  the disclaimer must be delivered to the holder,
	the personal representative of the holder's estate, or the
	fiduciary under the instrument that created the power; or
	(2)  if no fiduciary is then serving, the disclaimer
	must be filed:
	(A)  with a court having authority to appoint the
	fiduciary; or
	(B)  in the official public records of the county
	in which the creator of the power is domiciled or was domiciled on
	the date of the creator's death.
	Sec. 240.109.  DISCLAIMER BY CERTAIN FIDUCIARIES. In the
	case of a disclaimer by a fiduciary of a power over a trust or
	estate, the disclaimer must be delivered as provided by Section
	240.102, 240.103, or 240.104 as if the power disclaimed were an
	interest in property.
	Sec. 240.110.  DISCLAIMER OF POWER BY AGENT. In the case of
	a disclaimer of a power by an agent, the disclaimer must be
	delivered to the principal or the principal's representative.
	Sec. 240.111.  RECORDING OF DISCLAIMER. If an instrument
	transferring an interest in or power over property subject to a
	disclaimer is required or authorized by law to be filed, recorded,
	or registered, the disclaimer may be filed, recorded, or registered
	as that instrument. Except as otherwise provided by Section
	240.105(c)(2), failure to file, record, or register the disclaimer
	does not affect the disclaimer's validity between the disclaimant
	and persons to whom the property interest or power passes by reason
	of the disclaimer.
	SUBCHAPTER D.  DISCLAIMER BARRED OR LIMITED
	Sec. 240.151.  WHEN DISCLAIMER BARRED OR LIMITED. (a) A
	disclaimer is barred by a written waiver of the right to disclaim.
	(b)  A disclaimer of an interest in property is barred if any
	of the following events occur before the disclaimer becomes
	effective:
	(1)  the disclaimant accepts the interest sought to be
	disclaimed by:
	(A)  taking possession of the interest; or
	(B)  exercising dominion and control over the
	interest;
	(2)  the disclaimant voluntarily assigns, conveys,
	encumbers, pledges, or transfers the interest sought to be
	disclaimed or contracts to do so; or
	(3)  the interest sought to be disclaimed is sold under
	a judicial sale.
	(c)  The acceptance of an interest in property by a person in
	the person's fiduciary capacity is not an acceptance of the
	interest in the person's individual capacity and does not bar the
	person from disclaiming the interest in the person's individual
	capacity.
	(d)  A disclaimer, in whole or in part, of the future
	exercise of a power held in a fiduciary capacity is not barred by
	the previous exercise of the power.
	(e)  A disclaimer, in whole or in part, of the future
	exercise of a power not held in a fiduciary capacity is not barred
	by the previous exercise of the power unless the power is
	exercisable in favor of the disclaimant.
	(f)  A disclaimer of:
	(1)  a power over property that is barred by this
	section is ineffective; and
	(2)  an interest in property that is barred by this
	section takes effect as a transfer of the interest disclaimed to the
	persons who would have taken the interest under Subchapter B had the
	disclaimer not been barred.
	(g)  A disclaimer by a child support obligor is barred as to
	disclaimed property that could be applied to satisfy the
	disclaimant's child support obligations if those obligations have
	been:
	(1)  administratively determined by the Title IV-D
	agency as defined by Section 101.033, Family Code, in a Title IV-D
	case as defined by Section 101.034, Family Code; or
	(2)  confirmed and reduced to judgment as provided by
	Section 157.263, Family Code.
	(h)  If Subsection (g) applies, the child support obligee to
	whom child support arrearages are owed may enforce the child
	support obligation against the disclaimant as to disclaimed
	property by a lien or by any other remedy provided by law.
	SECTION 16.  The following provisions are repealed:
	(1)  Sections 122.003, 122.004, and 122.005, Estates
	Code;
	(2)  Subchapters B, C, and D, Chapter 122, Estates
	Code;
	(3)  Section 122.203, Estates Code; and
	(4)  Sections 112.010(c), (c-1), (c-2), (d), and (e),
	Property Code.
	SECTION 17.  Title 13, Property Code, as added by this Act,
	applies to an interest in or power over property existing on or
	after the effective date of this Act if the time for delivering or
	filing a disclaimer under former law, including the time for filing
	a written memorandum of disclaimer under Section 122.055, Estates
	Code, the time for delivering notice of the disclaimer under
	Section 122.056, Estates Code, or the time for delivering a written
	memorandum of disclaimer under Section 112.010, Property Code, as
	those sections existed immediately before the effective date of
	this Act, has not elapsed. If the time for filing or delivering
	notice of a written memorandum of disclaimer under former law has
	elapsed, the former law applies and is continued in effect for that
	purpose.
	SECTION 18.  Sections 122.201, 122.202, 122.204, and
	122.205, Estates Code, as amended by this Act, apply to property or
	an interest in or power over property existing on or after the
	effective date of this Act if the time for delivering or filing an
	assignment under former law, including the time for filing an
	assignment under Section 122.202, Estates Code, or the time for
	delivering notice of the filing of assignment under Section
	122.203, Estates Code, as those sections existed immediately before
	the effective date of this Act, has not elapsed. If the time for
	filing or delivering notice of an assignment under former law has
	elapsed, the former law applies and is continued in effect for that
	purpose.
	SECTION 19.  This Act takes effect September 1, 2015.
	______________________________	______________________________
	President of the Senate	Speaker of the House
	I certify that H.B. No. 2428 was passed by the House on April
	30, 2015, by the following vote:  Yeas 139, Nays 0, 1 present, not
	voting; and that the House concurred in Senate amendments to H.B.
	No. 2428 on May 23, 2015, by the following vote:  Yeas 131, Nays 0,
	1 present, not voting.
	______________________________
	Chief Clerk of the House
	I certify that H.B. No. 2428 was passed by the Senate, with
	amendments, on May 22, 2015, by the following vote:  Yeas 31, Nays
	0.
	______________________________
	Secretary of the Senate
	APPROVED: __________________
	Date
	__________________
	Governor