This form is a Transfer on Death Deed where the Grantors are husband and wife and the Grantee Beneficiaries are Husband and Wife. This transfer is revocable by either Grantor until their death and effective only upon the death of the last surviving Grantor. If both Grantee Beneficiaries survive the Grantors, the Grantees take the property as tenants in common, joint tenants with the right of survivorship or as tenants by the entirety. This deed complies with all state statutory laws.
We use cookies to improve security, personalize the user experience, enhance our marketing activities (including cooperating with our marketing partners) and for other business use.
Click "here" to read our Cookie Policy. By clicking "Accept" you agree to the use of cookies. Read less
Read more
- US Legal Forms
- Deeds
-
Missouri Transfer on Death Deed or TOD - Beneficiary Deed from Husband...
Transfer On Death Deed Missouri Form
State:
Missouri
Control #:
MO-038-77
Format:
Word;
Rich Text
Instant download
Description Sample Letter Request For Refund Of Payment
Free preview Sample Letter Requesting Refund From Attorney
Letter For Requesting Refund Of Payment Related forms
View Restaurant lease form withdrawal
View Restaurant lease form withdrawal
View this form
View Restrictive covenants in leases
View Restrictive covenants in leases
View this form
View Retail for lease melbourne
View Retail for lease melbourne
View this form
View Retail for lease sydney
View Retail for lease sydney
View this form
View Retail for lease toronto
View Retail for lease toronto
View this form
Viewed forms
How to fill out Transfer On Death Deed Missouri Form?
There's no more need to waste hours searching for legal documents to meet your local state regulations. US Legal Forms has accumulated all of them in one spot and facilitated their accessibility. Our website offers more than 85k templates for any business and personal legal scenarios collected by state and area of use All forms are professionally drafted and checked for validity, so you can be confident in obtaining an up-to-date Transfer On Death Deed Missouri Form.
If you are familiar with our platform and already have an account, you need to make sure your subscription is valid before getting any templates. Log in to your account, select the document, and click Download. You can also return to all acquired paperwork whenever needed by opening the My Forms tab in your profile.
If you've never dealt with our platform before, the process will take some more actions to complete. Here's how new users can locate the Transfer On Death Deed Missouri Form in our library:
- Read the page content carefully to make sure it contains the sample you need.
- To do so, use the form description and preview options if any.
- Use the Seach bar above to locate another template if the previous one didn't fit you.
- Click Buy Now next to the template title when you find the right one.
- Select the best suitable pricing plan and register for an account or sign in.
- Make payment for your subscription with a credit card or via PayPal to proceed.
- Select the file format for your Transfer On Death Deed Missouri Form and download it to your device.
- Print out your form to fill it out manually or upload the sample if you prefer to work with an online editor.
Preparing official paperwork under federal and state laws and regulations is fast and easy with our library. Try US Legal Forms now to keep your documentation in order!
Sample Letter Of Request For Refund Payment Form Rating
4.59
Satisfied(301)
Refund Letter Sample Form popularity
Letter For Refund Of Payment Other Form Names
Refund Payment Letter
Refund Money Letter
Tod Request Letter To Bank
Letter Of Request For Refund
Letter Request For Refund Of Payment
Tod Request Letter
Transfer On Death Deed Missouri
Transfer On Death Deed Missouri Form Related Searches
-
free printable transfer on death deed form missouri
-
beneficiary deed missouri pdf
-
where can i get a beneficiary deed form
-
missouri deed forms
-
beneficiary deed missouri cost
-
jackson county missouri beneficiary deed form
-
missouri beneficiary deed problems
-
missouri beneficiary deed statute
-
free printable transfer on death deed form
-
free beneficiary deed form for missouri
Interesting Questions
A Transfer on Death Deed (TODD) in Missouri is a legal document that allows you to transfer the ownership of your real estate property to a named beneficiary upon your death, bypassing the need for probate.
Any individual who owns real estate property in Missouri can use a Transfer on Death Deed.
Using a Transfer on Death Deed in Missouri can help your property transfer smoothly to your chosen beneficiary without the need for probate, which can save time and money. It also provides flexibility, as you still retain full control and ownership of the property during your lifetime.
To create a Transfer on Death Deed in Missouri, you need to use the official form provided by the Missouri Revised Statutes. You must include specific information such as your name, the beneficiary's name, a legal description of the property, and sign the deed in front of a notary public.
While it's not legally required to have an attorney, it is highly recommended to consult with a qualified attorney who specializes in estate planning to ensure that the deed is properly executed according to Missouri law.
Yes, you can change or revoke a Transfer on Death Deed in Missouri at any time during your lifetime as long as you have the mental capacity to do so. You can create a new deed to replace the old one or officially revoke it through a written document.
If the named beneficiary in the Transfer on Death Deed passes away before you, it is essential to update the deed and name a new beneficiary. If you fail to do so, the property may need to go through probate or be distributed according to your estate plan or Missouri intestate laws.
No, a Transfer on Death Deed is not the same as a Will. A Transfer on Death Deed only transfers the ownership of real estate property, while a Will covers broader aspects of estate planning, including distribution of assets and appointing guardians for minor children.
Yes, you can still sell or mortgage your property even if you have a Transfer on Death Deed in place. The ownership remains with you during your lifetime, allowing you to make decisions regarding the property without any restrictions from the deed.
Yes, in order for the Transfer on Death Deed to be valid and effective, it must be recorded with the county recorder's office in the county where the property is located. Failure to record the deed may render it invalid.
Trusted and secure by over 3 million people of the world’s leading companies
Sample Letter Of Refund Payment
Law summary
Transfer on Death Deed or TOD - Beneficiary Deed from Husband and Wife to Husband and Wife
Missouri Statutes
TITLE XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY
Chapter 461 NONPROBATE TRANSFERS LAW
461.001. Transfers on death, certain provisions deemed nontestamentary, exceptions.
Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, stock certificate, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust agreement, declaration of trust, conveyance or any other written instrument effective as a contract, gift, conveyance, or trust or to evidence ownership of property is deemed to be nontestamentary, and exempt from the requirements of section 473.087 and section 474.320:
(1) That money or other benefits theretofore due to, controlled or owned by a decedent shall be paid after the decedent's death to a person or persons designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently;
(2) That any money due or to become due under the instrument shall cease to be payable in event of the death of the promisee or the promisor before payment or demand;
(3) That any property which is the subject of the instrument shall pass on decedent's death to a person or persons designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently;
(4) Except to the extent specifically excluded thereunder, sections 461.003 to 461.081 apply to transfers under this section.
(L. 1995 S.B. 116)
461.005. Definitions.
In sections 461.003 to 461.081, unless the context otherwise requires, the following terms mean:
(1) "Beneficiary", a person or persons designated or entitled to receive property pursuant to a nonprobate transfer on surviving one or more persons;
(2) "Beneficiary designation", a provision in writing that is not a will that designates the beneficiary of a nonprobate transfer, including the transferee in an instrument that makes the transfer effective on death of the owner, and that complies with the conditions of any governing instrument, the rules of any transferring entity and applicable law;
(3) "Death of the owner", in the case of joint owners, means death of the last surviving owner;
(4) "In proper form", a phrase which applies to a beneficiary designation or a revocation or change thereof, or a request to make, revoke or change a beneficiary designation, which complies with the terms of the governing instrument, the rules of the transferring entity and applicable law, including any requirements with respect to supplemental documents;
(5) "Joint owners", persons who hold property as joint tenants with right of survivorship and a husband and wife who hold property as tenants by the entirety;
(6) "LDPS", an abbreviation of lineal descendants per stirpes which may be used in a beneficiary designation to designate a substitute beneficiary as provided in section 461.045;
(7) "Nonprobate transfer", a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation. A nonprobate transfer under sections 461.003 to 461.081 does not include survivorship rights in property held as joint tenants or tenants by the entirety, a transfer to a remainderman on termination of a life tenancy, a transfer under a trust established by an individual, either inter vivos or testamentary, a transfer pursuant to the exercise or nonexercise of a power of appointment, or a transfer made on death of a person who did not have the right to designate his or her estate as the beneficiary of the transfer;
(8) "Owner", a person or persons having a right, exercisable alone or with others, regardless of the terminology used to refer to the owner in any written beneficiary designation, to designate the beneficiary of a nonprobate transfer, and includes joint owners. The provisions of this subdivision shall apply to all beneficiary deeds executed and filed at any time, including, but not limited to, those executed and filed on or before August 28, 2005;
(9) "Ownership in beneficiary form", holding property pursuant to a registration in beneficiary form or other writing that names the owner of the property followed by a transfer on death direction and the designation of a beneficiary;
(10) "Person", living individuals, entities capable of owning property and fiduciaries;
(11) "Proof of death", includes a death certificate or record or report that is prima facie proof or evidence of death under section 472.290;
(12) "Property", any present or future interest in property, real or personal, tangible or intangible, legal or equitable. Property includes a right to direct or receive payment of a debt, money or other benefits due under a contract, account agreement, deposit agreement, employment contract, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust or law, a right to receive performance remaining due under a contract, a right to receive payment under a promissory note or a debt maintained in a written account record, rights under a certificated or uncertificated security, rights under an instrument evidencing ownership of property issued by a governmental agency and rights under a document of title within the meaning of section 400.1-201;
(13) "Registration in beneficiary form", titling of an account record, certificate, or other written instrument evidencing ownership of property in the name of the owner followed by a transfer on death direction and the designation of a beneficiary;
(14) "Security", a certificated or uncertificated security as defined in section 400.8-102, including securities as defined in section 409.401[fn*];
(15) "Transfer on death direction", the phrase "transfer on death to" or the phrase "pay on death to" or the abbreviation "TOD" or "POD" after the name of the owners and before the designation of the beneficiary; and
(16) "Transferring entity", a person who owes a debt or is obligated to pay money or benefits, render contract performance, deliver or convey property, or change the record of ownership of property on the books, records and accounts of an enterprise or on a certificate or document of title that evidences property rights, and includes any governmental agency, business entity or transfer agent that issues certificates of ownership or title to property and a person acting as a custodial agent for an owner's property.
[fn*] Section 409.401 was repealed in 2003 by H.B. 380, effective 9-01-03.
(L. 1989 H.B. 145 § 18, A.L. 1995 S.B. 116, A.L. 2005 S.B. 407 merged with S.B. 420 & 344)
461.011. Transferring entity acting as agent for owner subject to nontransfer law, agency does not end with death of owner, duties.
For the purpose of discharging its duties under the nonprobate transfers law, the authority of a transferring entity acting as agent for an owner of property subject to a nonprobate transfer shall not cease at death of the owner. The transferring entity shall transfer the property to the designated beneficiary in accordance with the governing instrument, the rules of the transferring entity and sections 461.003 to 461.081.
461.012. Nonprobate transfers subject to agreement of transferring entity, when.
1. When any of the following is required, provision for a nonprobate transfer is a matter of agreement between the owner and the transferring entity, under such rules, terms and conditions as the owner and transferring entity may agree:
(1) Submission to the transferring entity of a beneficiary designation under a governing instrument;
(2) Registration by a transferring entity of a transfer on death direction on any certificate or record evidencing ownership of property;
(3) The consent of a contract obligor for a transfer of performance due under the contract;
(4) The consent of a financial institution for a transfer of an obligation of the financial institution; or
(5) The consent of a transferring entity for a transfer of an interest in the transferring entity.
2. Whenever subsection 1 of this section is applicable, sections 461.003 to 461.081 do not impose an obligation on a transferring entity to accept an owner's request to make provision for a nonprobate transfer of property.
3. When a beneficiary designation, revocation or change is subject to acceptance by a transferring entity, the transferring entity's acceptance of the beneficiary designation, revocation or change relates back to and is effective as of the time when the request was received by the transferring entity.
(L. 1989 H.B. 145 § 20, A.L. 1995 S.B. 116)
461.014. Transferring entity, obligation resulting from acceptance and registration.
When a transferring entity accepts a beneficiary designation or beneficiary assignment, or registers property in beneficiary form, the acceptance or registration constitutes the agreement of the owner and transferring entity that, unless the beneficiary designation is revoked or changed prior to the owner's death, on proof of death of the owner and compliance with the transferring entity's requirements for showing proof of entitlement, the property will be transferred to and placed in the name and control of the beneficiary in accordance with the beneficiary designation or transfer on death direction, the agreement of the parties and sections 461.003 to 461.081.
(L. 1989 H.B. 145 § 21, A.L. 1995 S.B. 116)
461.021. Beneficiary designation under written instrument or law, effect.
A beneficiary designation, under a written instrument or law, that authorizes a transfer of property pursuant to a written designation of beneficiary, transfers the right to receive the property to the designated beneficiary who survives, effective on death of the owner, if the beneficiary designation is executed and delivered in proper form to the transferring entity prior to the death of the owner.
(L. 1989 H.B. 145 § 23, A.L. 1995 S.B. 116)
461.023. Assignments effective on death of owner delivery, effect.
1. A written assignment of a contract right that assigns the right to receive any performance remaining due under the contract to an assignee designated by the owner, that expressly states that the assignment is not to take effect until the death of the owner, transfers the right to receive performance due under the contract to the designated assignee beneficiary, effective on death of the owner, if the assignment is executed and delivered in proper form to the contract obligor prior to the death of the owner or is executed in proper form and acknowledged before a notary public or other person authorized to administer oaths. A beneficiary assignment need not be supported by consideration or be delivered to the assignee beneficiary.
2. This section does not preclude other methods of assignment that are permitted by law and that have the effect of postponing enjoyment of a contract right until the death of the owner.
(L. 1989 H.B. 145 § 24, A.L. 1995 S.B. 116)
461.025. Deeds effective on death of owner recording, effect.
1. A deed that conveys an interest in real property to a grantee designated by the owner, that expressly states that the deed is not to take effect until the death of the owner, transfers the interest provided to the designated grantee beneficiary, effective on death of the owner, if the deed is executed and filed of record with the recorder of deeds in the city or county or counties in which the real property is situated prior to the death of the owner. A beneficiary deed need not be supported by consideration or be delivered to the grantee beneficiary. A beneficiary deed may be used to transfer an interest in real property to a trust estate, regardless of such trust's revocability.
2. This section does not preclude other methods of conveyancing that are permitted by law and that have the effect of postponing enjoyment of an interest in real property until the death of the owner. This section does not invalidate any deed, otherwise effective by law to convey title to the interest and estates therein provided, that is not recorded until after the death of the owner.
(L. 1989 H.B. 145 § 25, A.L. 1994 S.B. 701, A.L. 1995 S.B. 116)
461.027. Transferor may directly transfer property to a transferee to hold as owner in beneficiary form transferee shall be owner of property for all purposes transfer effective, when.
1. A transferor of property, with or without consideration, may directly transfer the property to a transferee to hold as owner in beneficiary form.
2. A transferee under an instrument described in subsection 1 of this section shall be the owner of the property for all purposes and shall have all the rights to the property otherwise provided by law to owners, including the right to revoke or change the beneficiary designation.
3. A direct transfer of property to a transferee to hold as owner in beneficiary form is effective when the writing perfecting the transfer becomes effective to make the transferee the owner.
(L. 1995 S.B. 116)
Legal definition
Transfer on Death Deed or TOD - Beneficiary Deed from Husband and Wife to Husband and Wife
Missouri Statutes
TITLE XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY
Chapter 461 NONPROBATE TRANSFERS LAW
461.001. Transfers on death, certain provisions deemed nontestamentary, exceptions.
Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, stock certificate, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust agreement, declaration of trust, conveyance or any other written instrument effective as a contract, gift, conveyance, or trust or to evidence ownership of property is deemed to be nontestamentary, and exempt from the requirements of section 473.087 and section 474.320:
(1) That money or other benefits theretofore due to, controlled or owned by a decedent shall be paid after the decedent's death to a person or persons designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently;
(2) That any money due or to become due under the instrument shall cease to be payable in event of the death of the promisee or the promisor before payment or demand;
(3) That any property which is the subject of the instrument shall pass on decedent's death to a person or persons designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently;
(4) Except to the extent specifically excluded thereunder, sections 461.003 to 461.081 apply to transfers under this section.
(L. 1995 S.B. 116)
461.005. Definitions.
In sections 461.003 to 461.081, unless the context otherwise requires, the following terms mean:
(1) "Beneficiary", a person or persons designated or entitled to receive property pursuant to a nonprobate transfer on surviving one or more persons;
(2) "Beneficiary designation", a provision in writing that is not a will that designates the beneficiary of a nonprobate transfer, including the transferee in an instrument that makes the transfer effective on death of the owner, and that complies with the conditions of any governing instrument, the rules of any transferring entity and applicable law;
(3) "Death of the owner", in the case of joint owners, means death of the last surviving owner;
(4) "In proper form", a phrase which applies to a beneficiary designation or a revocation or change thereof, or a request to make, revoke or change a beneficiary designation, which complies with the terms of the governing instrument, the rules of the transferring entity and applicable law, including any requirements with respect to supplemental documents;
(5) "Joint owners", persons who hold property as joint tenants with right of survivorship and a husband and wife who hold property as tenants by the entirety;
(6) "LDPS", an abbreviation of lineal descendants per stirpes which may be used in a beneficiary designation to designate a substitute beneficiary as provided in section 461.045;
(7) "Nonprobate transfer", a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation. A nonprobate transfer under sections 461.003 to 461.081 does not include survivorship rights in property held as joint tenants or tenants by the entirety, a transfer to a remainderman on termination of a life tenancy, a transfer under a trust established by an individual, either inter vivos or testamentary, a transfer pursuant to the exercise or nonexercise of a power of appointment, or a transfer made on death of a person who did not have the right to designate his or her estate as the beneficiary of the transfer;
(8) "Owner", a person or persons having a right, exercisable alone or with others, regardless of the terminology used to refer to the owner in any written beneficiary designation, to designate the beneficiary of a nonprobate transfer, and includes joint owners. The provisions of this subdivision shall apply to all beneficiary deeds executed and filed at any time, including, but not limited to, those executed and filed on or before August 28, 2005;
(9) "Ownership in beneficiary form", holding property pursuant to a registration in beneficiary form or other writing that names the owner of the property followed by a transfer on death direction and the designation of a beneficiary;
(10) "Person", living individuals, entities capable of owning property and fiduciaries;
(11) "Proof of death", includes a death certificate or record or report that is prima facie proof or evidence of death under section 472.290;
(12) "Property", any present or future interest in property, real or personal, tangible or intangible, legal or equitable. Property includes a right to direct or receive payment of a debt, money or other benefits due under a contract, account agreement, deposit agreement, employment contract, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust or law, a right to receive performance remaining due under a contract, a right to receive payment under a promissory note or a debt maintained in a written account record, rights under a certificated or uncertificated security, rights under an instrument evidencing ownership of property issued by a governmental agency and rights under a document of title within the meaning of section 400.1-201;
(13) "Registration in beneficiary form", titling of an account record, certificate, or other written instrument evidencing ownership of property in the name of the owner followed by a transfer on death direction and the designation of a beneficiary;
(14) "Security", a certificated or uncertificated security as defined in section 400.8-102, including securities as defined in section 409.401[fn*];
(15) "Transfer on death direction", the phrase "transfer on death to" or the phrase "pay on death to" or the abbreviation "TOD" or "POD" after the name of the owners and before the designation of the beneficiary; and
(16) "Transferring entity", a person who owes a debt or is obligated to pay money or benefits, render contract performance, deliver or convey property, or change the record of ownership of property on the books, records and accounts of an enterprise or on a certificate or document of title that evidences property rights, and includes any governmental agency, business entity or transfer agent that issues certificates of ownership or title to property and a person acting as a custodial agent for an owner's property.
[fn*] Section 409.401 was repealed in 2003 by H.B. 380, effective 9-01-03.
(L. 1989 H.B. 145 § 18, A.L. 1995 S.B. 116, A.L. 2005 S.B. 407 merged with S.B. 420 & 344)
461.011. Transferring entity acting as agent for owner subject to nontransfer law, agency does not end with death of owner, duties.
For the purpose of discharging its duties under the nonprobate transfers law, the authority of a transferring entity acting as agent for an owner of property subject to a nonprobate transfer shall not cease at death of the owner. The transferring entity shall transfer the property to the designated beneficiary in accordance with the governing instrument, the rules of the transferring entity and sections 461.003 to 461.081.
461.012. Nonprobate transfers subject to agreement of transferring entity, when.
1. When any of the following is required, provision for a nonprobate transfer is a matter of agreement between the owner and the transferring entity, under such rules, terms and conditions as the owner and transferring entity may agree:
(1) Submission to the transferring entity of a beneficiary designation under a governing instrument;
(2) Registration by a transferring entity of a transfer on death direction on any certificate or record evidencing ownership of property;
(3) The consent of a contract obligor for a transfer of performance due under the contract;
(4) The consent of a financial institution for a transfer of an obligation of the financial institution; or
(5) The consent of a transferring entity for a transfer of an interest in the transferring entity.
2. Whenever subsection 1 of this section is applicable, sections 461.003 to 461.081 do not impose an obligation on a transferring entity to accept an owner's request to make provision for a nonprobate transfer of property.
3. When a beneficiary designation, revocation or change is subject to acceptance by a transferring entity, the transferring entity's acceptance of the beneficiary designation, revocation or change relates back to and is effective as of the time when the request was received by the transferring entity.
(L. 1989 H.B. 145 § 20, A.L. 1995 S.B. 116)
461.014. Transferring entity, obligation resulting from acceptance and registration.
When a transferring entity accepts a beneficiary designation or beneficiary assignment, or registers property in beneficiary form, the acceptance or registration constitutes the agreement of the owner and transferring entity that, unless the beneficiary designation is revoked or changed prior to the owner's death, on proof of death of the owner and compliance with the transferring entity's requirements for showing proof of entitlement, the property will be transferred to and placed in the name and control of the beneficiary in accordance with the beneficiary designation or transfer on death direction, the agreement of the parties and sections 461.003 to 461.081.
(L. 1989 H.B. 145 § 21, A.L. 1995 S.B. 116)
461.021. Beneficiary designation under written instrument or law, effect.
A beneficiary designation, under a written instrument or law, that authorizes a transfer of property pursuant to a written designation of beneficiary, transfers the right to receive the property to the designated beneficiary who survives, effective on death of the owner, if the beneficiary designation is executed and delivered in proper form to the transferring entity prior to the death of the owner.
(L. 1989 H.B. 145 § 23, A.L. 1995 S.B. 116)
461.023. Assignments effective on death of owner delivery, effect.
1. A written assignment of a contract right that assigns the right to receive any performance remaining due under the contract to an assignee designated by the owner, that expressly states that the assignment is not to take effect until the death of the owner, transfers the right to receive performance due under the contract to the designated assignee beneficiary, effective on death of the owner, if the assignment is executed and delivered in proper form to the contract obligor prior to the death of the owner or is executed in proper form and acknowledged before a notary public or other person authorized to administer oaths. A beneficiary assignment need not be supported by consideration or be delivered to the assignee beneficiary.
2. This section does not preclude other methods of assignment that are permitted by law and that have the effect of postponing enjoyment of a contract right until the death of the owner.
(L. 1989 H.B. 145 § 24, A.L. 1995 S.B. 116)
461.025. Deeds effective on death of owner recording, effect.
1. A deed that conveys an interest in real property to a grantee designated by the owner, that expressly states that the deed is not to take effect until the death of the owner, transfers the interest provided to the designated grantee beneficiary, effective on death of the owner, if the deed is executed and filed of record with the recorder of deeds in the city or county or counties in which the real property is situated prior to the death of the owner. A beneficiary deed need not be supported by consideration or be delivered to the grantee beneficiary. A beneficiary deed may be used to transfer an interest in real property to a trust estate, regardless of such trust's revocability.
2. This section does not preclude other methods of conveyancing that are permitted by law and that have the effect of postponing enjoyment of an interest in real property until the death of the owner. This section does not invalidate any deed, otherwise effective by law to convey title to the interest and estates therein provided, that is not recorded until after the death of the owner.
(L. 1989 H.B. 145 § 25, A.L. 1994 S.B. 701, A.L. 1995 S.B. 116)
461.027. Transferor may directly transfer property to a transferee to hold as owner in beneficiary form transferee shall be owner of property for all purposes transfer effective, when.
1. A transferor of property, with or without consideration, may directly transfer the property to a transferee to hold as owner in beneficiary form.
2. A transferee under an instrument described in subsection 1 of this section shall be the owner of the property for all purposes and shall have all the rights to the property otherwise provided by law to owners, including the right to revoke or change the beneficiary designation.
3. A direct transfer of property to a transferee to hold as owner in beneficiary form is effective when the writing perfecting the transfer becomes effective to make the transferee the owner.
(L. 1995 S.B. 116)
Sorry, this device is not supported
Please open this page on your desktop computer.