§ 115.001 Definitions
§ 115.002 Beneficiary Designation Authorized
§ 115.003 Joint Ownership
§ 115.004 Effect of Beneficiary Designation During Owner’s Life
§ 115.005 Effect of Beneficiary Designation At Owner’s or Last Surviving Owner’s Death
§ 115.006 Creditor Claims; Allowances in Lieu of Exempt Property and Family Allowances
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Terms Used In Texas Estates Code Chapter 115 - Beneficiary Designation for Motor Vehicles

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
  • Devise: To gift property by will.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Person: includes a natural person and a corporation. See Texas Estates Code 22.027
  • Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
  • Property: means real and personal property. See Texas Government Code 311.005
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Rule: includes regulation. See Texas Government Code 311.005
  • Trustee: A person or institution holding and administering property in trust.
  • Year: means 12 consecutive months. See Texas Government Code 311.005