SB 117 - Uniform Real Property Transfer on Death Act

• Adopts the Uniform Real Property Transfer on Death Act, effective October 1, 2016, allowing individuals to transfer real property to designated beneficiaries through a transfer on death deed that takes effect upon the owner's death without probate.

• Transfer on death deeds must contain essential elements of a properly recordable deed, state that transfer occurs at the transferor's death, and be recorded in the town clerk's office before the transferor's death to be effective.

• Transfer on death deeds are revocable at any time during the transferor's life through execution and recording of a revocation instrument, a new transfer on death deed, or an inter vivos deed that expressly revokes the previous deed.

• During the transferor's life, a recorded transfer on death deed does not affect the transferor's ownership rights, creditor claims, eligibility for public assistance, or create any legal interest in the designated beneficiary until the transferor's death.

• Upon the transferor's death, property transfers to designated beneficiaries contingent on their survival, with provisions for alternate beneficiaries, and beneficiaries may disclaim their interest under existing Connecticut law provisions.