Bill
HF 125
The bill creates transfer on death deeds to name beneficiaries who receive the owner's real property at death, with revocation rights for the owner.
HF 125 — Transfer on Death Deeds and Disclaimers of Real Property
Overview
- Purpose: The bill relates to the creation of transfer on death (TOD) deeds and to disclaimers of an interest in real property, with applicability provisions. It is intended to provide a mechanism for transferring property at the owner’s death to designated beneficiaries, potentially outside of full probate proceedings.
- Status: Subcommittee recommends passage.
Key Provisions (as reflected in introduced language and bill framing)
- Transfer on Death Deed structure:
- Requires identifying information for one or more owners who are making the deed.
- Includes the legal description of the property to be conveyed.
- Names a Primary Beneficiary who would receive the property at the owner's death.
- Allows an Optional Alternate Beneficiary to receive the property if the primary beneficiary does not survive the owner.
- Provides a Transfer on Death clause: at the owner's death, the owner’s interest in the described property transfers to the designated beneficiaries as named.
- Establishes that the owner retains the right to revoke the TOD deed before death.
- Contains signatures (and seals, if any) from the owner(s); space for dates.
- The form emphasizes that the TOD deed must be recorded before the owner's death to be effective.
- Disclaimers (related concept):
- The bill also addresses disclaimers of an interest in real property, aligning with TOD conveyance mechanics, though specific disclaimer provisions are not detailed in the provided excerpt.
- Applicability provisions:
- The bill includes applicability provisions to govern when and how TOD deeds and related disclaimers may be used, indicating it would set scope and transition rules for real property transfers under TOD arrangements.
Who would be Affected
- Property owners seeking a method to designate who receives their real property upon death.
- Named beneficiaries (primary and alternate) who would receive the property upon the owner’s death.
- Heirs or other interested parties who may be affected by a property transfer outside of, or in conjunction with, probate, and by any disclaimer provisions.
Procedural and Timeline Aspects
- Introduced: January 27, 2025.
- Subcommittee actions:
- January 27, 2025: Introduced and referred to Judiciary.
- January 29, 2025: Subcommittee members listed (Nordman, Croken, Gustoff).
- January 30, 2025: Subcommittee reassigned to Nordman, Croken, and Lawler; meeting scheduled for February 6, 2025.
- February 6, 2025: Subcommittee recommends passage.
- Sponsor: Nordman (primary).
Notes for Readers
- The included form language in the introduced version shows a typical TOD deed layout, including owner information, property description, primary and alternate beneficiary designations, the TOD transfer clause, revocation rights, and signature blocks. If enacted, the bill would establish or authorize these TOD mechanisms within the applicable real property and probate framework, including rules on applicability and revocation.
- As the bill moves forward, details on scope (e.g., types of properties covered, limitations, tax implications, interaction with existing probate law) will emerge in committee discussions and the final engrossed text.
Compiled from official sources — confirm details with the bill’s official record.
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