The bill amends the Nebraska Uniform Real Property Transfer on Death Act by updating sections 76-3401 and 76-3410 of the Reissue Revised Statutes of Nebraska. It introduces new provisions regarding the required warnings on transfer on death deeds and insurance policies related to certain real properties. Notably, it adds a warning that property insurance on transferred property may expire thirty days after the transferor's death unless the designated beneficiary is added as an insured party. Additionally, it clarifies that the designated beneficiary will be considered an insured party under any property insurance policy from the date of the transferor's death until certain conditions are met.

Furthermore, the bill harmonizes existing provisions and repeals the original sections 76-3401 and 76-3410. The amendments aim to ensure that beneficiaries are adequately informed about their responsibilities and the implications of property insurance coverage following the transferor's death. The changes are designed to protect both the transferor's estate and the designated beneficiaries by providing clearer guidelines and warnings regarding inheritance taxes, Medicaid reimbursement, and insurance coverage.

Statutes affected:
Introduced: 76-3401, 76-3410
Final Reading: 76-3401, 76-3410
Slip Law: 76-3401, 76-3410