This bill introduces provisions for the transfer of a boat or vehicle title upon the death of the owner in Alaska. It amends existing laws to allow owners to obtain a "transfer on death" title, which designates a beneficiary who will receive the title automatically upon the owner's death. The bill outlines the process for obtaining such a title, including the requirement for an application to the Department of Administration, the designation of one or two beneficiaries, and the payment of a fee. It also specifies that the transfer is effective without the need for notice or acceptance by the beneficiary and can be revoked or changed by the owner at any time during their life.

Additionally, the bill clarifies that the transfer on death title is a nontestamentary transfer, meaning it does not require probate. It includes provisions regarding the rights of creditors and the handling of liabilities associated with the transferred property. The bill also mandates that the Department of Administration adopt necessary regulations to implement these changes, with an effective date set for July 1, 2025, while allowing for immediate implementation of regulatory measures.

Statutes affected:
SB0104A, AM SB 104, introduced 02/19/2025: 13.33.401, 13.33.101, 13.12.203, 13.12.803, 13.12.804, 05.25.055, 05.25.056, 28.10.201, 13.48.110, 28.10.211, 28.10.271