The bill establishes a new chapter titled "Uniform Real Property Transfer on Death Act" within Title 33 of the General Laws, which sets forth the procedures for transferring real property upon the owner's death. It introduces definitions for key terms such as "Beneficiary," "Designated beneficiary," and "Transfer on death deed." The act allows property owners to transfer their property to one or more named beneficiaries through a revocable transfer on death deed, which must be recorded in public records to be effective.

The legislation clarifies that a transfer on death deed does not affect the transferor's rights during their lifetime, nor does it impact existing encumbrances on the property. It also provides a framework for revoking transfer on death deeds, requiring property owners to complete and record a revocation form, which must be notarized and filed in public records before the owner's death.

Additionally, the act emphasizes the need for uniformity in the application of the law across states and clarifies its relationship with the federal Electronic Signatures in Global and National Commerce Act. The act will take effect upon passage and will apply to transfer on death deeds executed before, on, or after January 1, 2027, for transferors who die on or after that date.