(a) An owner of a motor vehicle may transfer the owner's interest in the motor vehicle to a sole beneficiary effective on the owner's death by designating a beneficiary as provided by Section 501.0315, Transportation Code.
(b) A beneficiary designation is:
(1) subject to Section 115.003(b), revocable and may be changed at any time without the consent of the designated beneficiary as provided by Section 501.0315, Transportation Code;
(2) a nontestamentary instrument; and
(3) effective without:
(A) notice or delivery to or acceptance by the designated beneficiary during the owner's life; or
(B) consideration.
(c) A will may not revoke or supersede a beneficiary designation, regardless of when the will is made.
(d) A designated beneficiary may disclaim the designated beneficiary's interest in the motor vehicle as provided by Chapter 240, Property Code.