House Bill No. introduced by S. Fitzpatrick aims to revise insurance laws concerning the interest of a named insured and the implications of a transfer on death deed. The bill amends Sections 33-15-206 and 72-6-412 of the Montana Code Annotated (MCA) to clarify that a change of interest in real property due to a transfer on death deed does not void the insurance coverage on that property. Specifically, it states that insurance coverage continues beyond the death of the named insured, provided it aligns with existing policy terms and conditions.

Additionally, the bill outlines that upon the death of the property owner, any real property insurance coverage will extend to the designated beneficiary as if they were the named insured, unless the beneficiary disclaims interest in the property. The temporary coverage for the beneficiary will last for 45 days after the owner's death, until the policy expires, or until a replacement policy is secured. The bill emphasizes that this coverage does not affect any existing coverage for household members or others considered insured at the time of the owner's death. The act is set to take effect immediately upon passage and approval.

Statutes affected:
LC Text: 33-15-206, 72-6-412
HB0464_1(1): 33-15-206, 72-6-412
HB0464_1(2): 33-15-206, 72-6-412
HB0464_1(3): 33-15-206, 72-6-412
HB0464_1(4): 33-15-206, 72-6-412
HB0464_1(5): 33-15-206, 72-6-412
HB0464_1(6): 33-15-206, 72-6-412
HB0464_1: 33-15-206, 72-6-412
HB0464_2(1): 33-15-206, 72-6-412
HB0464_2(2): 33-15-206, 72-6-412
HB0464_2(3): 33-15-206, 72-6-412
HB0464_2(4): 33-15-206, 72-6-412
HB0464_2(5): 33-15-206, 72-6-412
HB0464_2(6): 33-15-206, 72-6-412
HB0464_2(7): 33-15-206, 72-6-412
HB0464_2(8): 33-15-206, 72-6-412
HB0464_2: 33-15-206, 72-6-412