This bill introduces the Uniform Real Property Transfer on Death Act, which allows individuals to create transfer on death deeds that facilitate the transfer of real property to designated beneficiaries upon the owner's death, thereby avoiding the probate process. Key definitions are provided, including "beneficiary," "designated beneficiary," and "transfer on death deed." The bill stipulates that these deeds must be recorded prior to the transferor's death to be valid, and it emphasizes that they are revocable, do not require beneficiary acceptance during the transferor's lifetime, and do not alter the transferor's rights to the property while they are alive.

Additionally, the bill outlines the necessary capacity for creating or revoking a transfer on death deed and clarifies that such deeds do not confer any legal interest to the beneficiary until the transferor's death. It mandates that disclaimers of interest in real property must be recorded in the county recorder's office, enhancing legal clarity. The bill also specifies that a transfer on death deed is irrevocable unless an inconsistent deed or explicit revocation is recorded. It ensures that the property is transferred to the designated beneficiary upon the transferor's death, subject to any existing encumbrances, and includes provisions for handling situations where the beneficiary predeceases the transferor. Optional forms for creating and revoking these deeds are introduced, and the bill applies to deeds executed on or after its effective date, without affecting previously executed deeds.

Statutes affected:
Introduced: 633.238