This bill introduces provisions for the transfer of title for boats and vehicles 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 when the owner passes away. 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 necessary fees. 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 designated beneficiaries, the handling of claims against the owner's estate, and the issuance of new certificates of title after the owner's death. The bill also allows the Department of Administration to adopt regulations to implement these changes, with an effective date set for July 1, 2025, except for certain provisions that take effect immediately.

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