IA HF125

Establishes the Uniform Real Property Transfer on Death Act in Iowa, allowing individuals to transfer real property to designated beneficiaries effective at the transferor's death without going through probate

Requires transfer on death deeds to contain essential elements of a recordable deed, state that transfer occurs at death, and be recorded with the county recorder before the transferor's death to be valid

Makes transfer on death deeds revocable at any time by the transferor through recording a new deed, an instrument of revocation, or an inter vivos deed that expressly revokes the original deed

Specifies that during the transferor's lifetime, the deed does not affect the owner's rights to the property, create any interest for the beneficiary, or subject the property to beneficiary's creditors

Provides that beneficiaries take property subject to all existing liens, mortgages, and encumbrances, and that the transferor's estate may recover property to satisfy allowed claims if the probate estate is insufficient