Tex. Prop. Code § 141.002 · Chapter 141. TRANSFERS TO MINORS
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this chapter:
(1) "Adult" means an individual who is at least 21 years of age.
(2) "Benefit plan" means a retirement plan, including an interest described by Sections 111.004(19)-(23).
(3) "Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of another.
(4) "Court" means a court with original probate jurisdiction.
(5) "Custodial property" means:
(A) any interest in property transferred to a custodian under this chapter; and
(B) the income from and proceeds of that interest in property.
(6) "Custodian" means a person designated as a custodian under Section 141.010 or a successor or substitute custodian designated under Section 141.019.
(7) "Financial institution" means a bank, trust company, savings institution, or credit union chartered and supervised under state or federal law.
(8) "Guardian" means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.
(9) "Legal representative" means an executor, independent executor, administrator or independent administrator of a decedent's estate, an obligor under a benefit plan or other governing instrument, a successor legal representative, or a person legally authorized to perform substantially the same functions.
(10) "Member of the minor's family" means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of whole or half blood or by adoption.
(11) "Minor" means an individual who is younger than 21 years of age.
(12) "Transfer" means a transaction that creates custodial property under Section 141.010.
(12-a) "Qualified minor's trust" means a trust to which a gift is considered a present interest under Section 2503(c), Internal Revenue Code of 1986.
(13) "Transferor" means a person who makes a transfer under this chapter.
(14) "Trust company" means a financial institution, corporation, or other legal entity authorized to exercise general trust powers.
Notes and commentary — not statutory text
History
Amended by Acts 1995, 74th Leg., ch. 1043, Sec. 1, eff. Sept. 1, 1995. Renumbered from Property Code Sec. 2 by Acts 1997, 75th Leg., ch. 165, Sec. 31.01(72), eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564), Sec. 16, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.141.htm
- Text hash
- sha256 f825d1e0cc7291ddcc2907ffa82b7055ecf72553c79899ce196f12ba19f6bc27
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Property Code
- Tex. Prop. Code § 111.004DEFINITIONS.Printed as Sections 111.004(19)
- Tex. Prop. Code § 141.010MANNER OF CREATING CUSTODIAL PROPERTY AND EFFECTING TRANSFER; DESIGNATION OF INITIAL CUSTODIAN; CONTROL.Printed as Section 141.010
- Tex. Prop. Code § 141.019RENUNCIATION, RESIGNATION, DEATH, OR REMOVAL OF CUSTODIAN; DESIGNATION OF SUCCESSOR CUSTODIAN.Printed as Section 141.019
Cited by 2 provisions
Provisions in this library whose text cites Tex. Prop. Code § 141.002. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.