MD SB145

Sole owners or co-owners (joint tenants with right of survivorship or tenants by the entirety) of marine vessels may apply to the Department of Natural Resources to designate a transfer-on-death (TOD) beneficiary

Expands existing motor vehicle TOD law to allow co-owners with joint tenancy or tenancy by the entirety to designate beneficiaries, not just sole owners

Beneficiary designations can be revoked or changed at any time without the beneficiary's consent and do not require consideration or delivery of the certificate of title

Upon death of the sole owner or last surviving co-owner, ownership passes directly to the surviving beneficiary, bypassing probate; if the beneficiary predeceases the owner, the property becomes part of the estate

Effective date: October 1, 2026