AR SB292

Allows vehicle owners to designate a beneficiary on their certificate of title, enabling automatic transfer of the vehicle to the beneficiary upon the owner's death without probate.

Beneficiary must be a single individual (not a business or other entity) and cannot be designated if the vehicle has an outstanding lien or is held as tenants in common.

Requires owner to submit a transfer on death application with $4.00 title application fee plus $10.00 processing fee; beneficiary cannot consent to or be required for transactions during owner's lifetime.

Upon owner's death, beneficiary receives new certificate of title by presenting proof of death (death certificate), surrendering the existing certificate, and paying applicable fees.

Establishes identical transfer on death procedures for motorboats through certificate of number with beneficiary designation, with same restrictions, fees, and application requirements.