This bill amends the Uniform Real Property Transfer on Death Act in West Virginia, specifically section 36-12-9, to clarify the requirements for a transfer on death deed. It stipulates that such a deed must contain the essential elements of a recordable inter vivos deed and explicitly state that the transfer to the designated beneficiary occurs at the transferor's death. Additionally, the bill introduces a requirement that the transferor must execute the deed with the requisite capacity, which is defined as the same capacity needed to create a will.

Furthermore, the bill modifies the language regarding the recording of the transfer on death deed, changing "must" to "shall" to emphasize the obligation to record the deed before the transferor's death in the appropriate county office. It also clarifies that the deed is exempt from excise tax at the time of recording, as no interest in the property is transferred until the death of the transferor, and the deed remains revocable until that time. Overall, the bill aims to provide clearer guidelines for the execution and recording of transfer on death deeds in West Virginia.

Statutes affected:
Introduced Version: 36-12-9