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Texas Statutes (Last Updated: January 4, 2014) |
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PROPERTY CODE |
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Title 10. MISCELLANEOUS BENEFICIAL PROPERTY INTERESTS |
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Subtitle C. POWERS OF APPOINTMENT |
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Chapter 181. POWERS OF APPOINTMENT |
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Subchapter B. RELEASE OF POWERS OF APPOINTMENT |
Sec. 181.051. AUTHORITY OF DONEE TO RELEASE POWER
Latest version.
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Unless the instrument creating the power specifically provides to the contrary, a donee may at any time:
(1) completely release the power;
(2) release the power as to any property subject to the power;
(3) release the power as to a person in whose favor a power may be exercised; or
(4) limit in any respect the extent to which the power may be exercised.
Acts 1983, 68th Leg., p. 3724, ch. 576, Sec. 1, eff. Jan. 1, 1984.