Section 29A-6-420 – Liability for debts and obligations of deceased transferor.
29A-6-420. Liability for debts and obligations of deceased transferor. Upon the death of the transferor, the beneficiary is liable for the debts and obligations of the deceased transferor under the conditions set forth in §§29A-6-421 to 29A-6-424, inclusive. Source: SL 2014, ch 133, §20.
Section 29A-6-421 – Action by creditor or personal representative against beneficiary–Time limitations.
29A-6-421. Action by creditor or personal representative against beneficiary–Time limitations. Unless a settlement is made with the beneficiary, a creditor or personal representative of the deceased transferor may institute an action in any court of competent jurisdiction, within six months after the death of the transferor, against the beneficiary setting forth such claim, unless the […]
Section 29A-6-422 – Proof of insufficient other property to satisfy debts and obligations–Presumption.
29A-6-422. Proof of insufficient other property to satisfy debts and obligations–Presumption. In any action instituted by a creditor or personal representative of a deceased transferor, as specified in §29A-6-421, the person instituting the action shall allege and prove that there is not sufficient other property standing in the name of the deceased transferor at the […]
Section 29A-6-407 – Capacity of transferor.
29A-6-407. Capacity of transferor. The capacity required to make or revoke a transfer on a death deed is the same as the capacity required to make a will. Source: SL 2014, ch 133, §7.
Section 29A-6-408 – Requirements.
29A-6-408. Requirements. A transfer on death deed must: (1)Except as otherwise provided in subdivision (2), contain the essential elements and formalities of a properly recordable inter vivos deed as required by the standards of title; (2)State that the transfer to the designated beneficiary is to occur at the transferor’s death; and (3)Be recorded before the […]
Section 29A-6-409 – Notice, delivery, acceptance, consideration not required.
29A-6-409. Notice, delivery, acceptance, consideration not required. A transfer on death deed is effective without: (1)Notice or delivery to or acceptance by the designated beneficiary during the transferor’s life; or (2)Consideration. Source: SL 2014, ch 133, §9.
Section 29A-6-410 – Revocation by instrument authorized.
29A-6-410. Revocation by instrument authorized. Subject to §29A-6-411, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument: (1)Is: (a)A transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency; (b)An instrument of revocation that expressly revokes […]
Section 29A-6-305 – Form of registration in beneficiary form.
29A-6-305. Form of registration in beneficiary form. Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD,” or by the words “pay on death” or the abbreviation “POD,” after the name of the registered owner and before the name of a beneficiary. Source: SL 1995, ch 168, §6-305.
Section 29A-6-411 – Revocation by more than one transferor.
29A-6-411. Revocation by more than one transferor. If a transfer on death deed is made by more than one transferor: (1)Revocation by one transferor does not affect the deed as to the interest of another transferor; and (2)A deed of joint owners is revoked only if it is revoked by all of the living joint […]
Section 29A-6-306 – Effect of registration in beneficiary form.
29A-6-306. Effect of registration in beneficiary form. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the […]