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. This new warning is in addition to existing warnings about inheritance taxation and Medicaid reimbursement liabilities.

Furthermore, the bill 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, such as the end of the policy period or the acquisition of alternative coverage. It also specifies that the designated beneficiary will not have any claim to insurance proceeds that accrued before the death of the insured. The original sections 76-3401 and 76-3410 are repealed to accommodate these changes.

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