H.B. 2387 Summary

• Establishes the Uniform Real Property Transfer on Death Act, allowing real property owners to designate beneficiaries to receive property upon death without probate proceedings.

• Permits transfer on death deeds that must contain essential elements of a recordable deed, state that transfer occurs at the transferor's death, and be recorded with the bureau of conveyances before the transferor's death.

• Transfer on death deeds are revocable and nontestamentary, requiring only the same legal capacity as making a will, with no notice, delivery, acceptance, or consideration required.

• Property transfers to designated beneficiaries at the transferor's death contingent on the beneficiary surviving the transferor, with concurrent interests transferred in equal shares unless otherwise specified.

• Amends disclaimer provisions to require recording of disclaimers of real property interests in the bureau of conveyances; effective July 1, 2010.