Texas Family Code 154.003 – Manner of Payment
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Terms Used In Texas Family Code 154.003
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Property: means real and personal property. See Texas Government Code 311.005
The court may order that child support be paid by:
(1) periodic payments;
(2) a lump-sum payment;
(3) an annuity purchase;
(4) the setting aside of property to be administered for the support of the child as specified in the order;
(5) pension, retirement, or other employee benefits in accordance with an enforceable qualified domestic relations order or similar order under Subchapter J, Chapter 157; or
(6) any combination of periodic payments, lump-sum payments, annuity purchases, or setting aside of property.