Texas Property Code 181.051 – Authority of Donee to Release Power
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Terms Used In Texas Property Code 181.051
- Donee: The recipient of a gift.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
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.