![]() Effect of transfer on death deed during transferor's life.ĭuring a transferor's life, a transfer on death deed does not: (d) This section does not limit the effect of an inter vivos transfer of the property. (c) After a transfer on death deed is recorded it may not be revoked by a revocatory act on the deed. (2) A deed of joint owners is revoked only if it is revoked by all of the living joint owners. (1) Revocation by a transferor does not affect the deed as to the interest of another transferor and (b) If a transfer on death deed is made by more than one transferor: (2) Is acknowledged by the transferor after the acknowledgment of the deed being revoked and recorded before the transferor's death in the public records in the office of the clerk of the county commission of the county where the deed is recorded. (C) An inter vivos deed that expressly revokes the transfer on death deed or part of the deed and (B) An instrument of revocation that expressly revokes the deed or part of the deed or ![]() (A) A transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency (a) Subject to subsection (b) of this section, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument: Revocation by instrument authorized revocation by act not permitted. ![]() ![]() (1) Notice or delivery to or acceptance by the designated beneficiary during the transferor's life or Notice, delivery, acceptance and consideration not required.Ī transfer on death deed is effective without: (3) Must be recorded before the transferor's death in the office of the clerk of the county commission in the county where the property is located: Provided, That, notwithstanding section two, article twenty-two, chapter eleven of this code, a transfer on death deed is exempt from the payment of excise tax on the privilege of transferring real estate for the reason that no interest in the property is at the time of recording being passed to the beneficiary and the deed remains revocable until the death of the transferor. (2) Must state that the transfer to the designated beneficiary is to occur at the transferor's death and (1) Except as otherwise provided in subdivision (2) of this section, must contain the essential elements and formalities of a properly recordable inter vivos deed The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will. Transfer on death deed nontestamentary.Ī transfer on death deed is nontestamentary. Transfer on death deed revocable.Ī transfer on death deed is revocable even if the deed or another instrument contains a contrary provision. Transfer on death deed authorized.Īn individual may transfer property to one or more beneficiaries or contingent beneficiaries effective at the transferor's death by a transfer on death deed. This article does not affect any method of transferring property otherwise permitted under the law of this state. This article applies to a transfer on death deed made on or after the effective date of this article, by a transferor dying on or after the effective date of this article. (8) "Transferor" means an individual who makes a transfer on death deed. (7) "Transfer on death deed" means a deed authorized under this article. (6) "Property" means an interest in real property located in this state which is transferable on the death of the owner. (5) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality, or any other legal or commercial entity. (4) "Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. The term includes contingent beneficiaries. (3) "Designated beneficiary" means a person designated to receive property in a transfer on death deed. (2) "Contingent beneficiary" means a person designated in a transfer on death deed to receive property only if a different person fails to survive the transferor. (1) "Beneficiary" means a person who receives property under a transfer on death deed. This article may be cited as the Uniform Real Property Transfer on Death Act. UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT.
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