This bill introduces the Uniform Real Property Transfer on Death Act, which enables individuals to create transfer on death deeds for the direct transfer of real property to designated beneficiaries upon the owner's death, thereby avoiding the probate process. Key definitions are established, including "beneficiary," "designated beneficiary," and "transferor." The bill stipulates that these deeds must be recorded prior to the transferor's death to be valid and clarifies that they are revocable, allowing the transferor to maintain their rights to the property during their lifetime. It also addresses disclaimers of interest in real property and outlines the liability for creditor claims against the transferred property, requiring that disclaimers be recorded in the appropriate county office.

Furthermore, the bill specifies that a transfer on death deed is irrevocable unless an inconsistent deed or explicit revocation is recorded. It emphasizes that these deeds are nontestamentary and require the same legal capacity as a will for their creation or revocation. The deed remains effective regardless of beneficiary notification or consideration received by the transferor, and it does not affect the transferor's interest in the property during their lifetime. Upon the transferor's death, the property is transferred to the designated beneficiary, subject to existing encumbrances, and includes provisions for beneficiaries to disclaim their interest. The bill also provides optional forms for creating and revoking transfer on death deeds and applies to deeds executed before, on, or after its effective date, ensuring clarity and uniformity in the process.

Statutes affected:
Introduced: 633.238