Texas § FI.125.104 - OWNERSHIP INTEREST
Full text of Texas The Texas Constitution § FI.125.104 — OWNERSHIP INTEREST, with citation guidance and answers to common questions.
§ FI.125.104. OWNERSHIP INTEREST
OWNERSHIP INTEREST. (a) The parties to a multiple-party account are presumed to own the account in equal undivided interests unless: (1) the account agreement provides otherwise; or (2) satisfactory proof of the net contributions to the account exists. (b) The net contribution of a party to a multiple-party account is computed by adding: (1) the total amount of all of the payments on a share or deposit made by or for the party, less the amount of all of the withdrawals made by or for the party that have not been paid to or applied for the use of another party; (2) the pro rata share of interest or dividends included in the current balance of the account; and (3) any life insurance proceeds added to the account because of the death of the party. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.125.104
What does The Texas Constitution § FI.125.104 cover?
Section FI.125.104 ("OWNERSHIP INTEREST") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.125.104?
A common citation format is "The Texas Constitution § FI.125.104" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.125.104 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.