Texas Natural Resources Code 151.104 – Beneficiary of Trust
Current as of: 2024 | Check for updates
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Terms Used In Texas Natural Resources Code 151.104
- 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
Each seller of standing timber is a beneficiary of trust money to the extent of the beneficiary’s share of the purchase price for the timber.