The bill HB 68-FN introduces the Uniform Real Property Transfer on Death Act, which allows property owners to pass their real property to designated beneficiaries upon their death using a transfer on death deed. This deed is revocable and non-testamentary, and it does not require notice, delivery, acceptance, or consideration while the owner is alive. The deed must be titled 'Transfer on Death Deed,' specify that the transfer occurs at the owner's death, and be recorded before the owner's death within a certain period in the appropriate registry of deeds. The bill also details the effects of the deed during the owner's life and after death, including the transfer of property to the beneficiary, subject to any encumbrances and creditors' claims, and specifies that the property is not part of the probate estate for a spouse's elective share.

Additionally, the bill addresses conditions under which a beneficiary is considered to have predeceased the transferor, the right of a beneficiary to disclaim interest, and the enforcement of creditor claims if the probate estate is insufficient. It provides optional forms for creating and revoking a transfer on death deed, which must be recorded within 60 days of execution or the owner's death. The bill exempts these deeds from real estate transfer tax under RSA 78-B:2 when no consideration is exchanged and grants probate courts concurrent jurisdiction with the superior court over matters related to transfer on death deeds under RSA 547:3. It modifies and limits the federal Electronic Signatures in Global and National Commerce Act but does not authorize electronic delivery of certain notices. The act will take effect on July 1, 2024.

Statutes affected:
As Amended by the House: 78-B:2, 547:3
Version adopted by both bodies: 78-B:2, 547:3
CHAPTERED FINAL VERSION: 547:3