Section 412 – Effect of transfer on death deed during transferor’s life.

Effective 5/8/2018
75-6-412. Effect of transfer on death deed during transferor’s life.
During a transferor’s life, a transfer on death deed does not:

• (1) affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;

• (2) affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;

• (3) affect an interest or right of the transferor’s secured or unsecured creditors or future creditors, even if they have actual or constructive notice of the deed;

• (4) affect the transferor’s or designated beneficiary’s eligibility for any form of public assistance;

• (5) create a legal or equitable interest in favor of the designated beneficiary; or

• (6) subject the property to claims or process of the designated beneficiary’s creditors.

Enacted by Chapter 26, 2018 General Session