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WV SB728
Bill
AI Summary
- Amends the Uniform Real Property Transfer on Death Act to add an explicit capacity requirement for transfer on death deeds
- Requires that a transfer on death deed must be executed by the transferor with requisite capacity as specified in §36-12-8 of the code
- Maintains existing requirements that the deed must contain essential elements of a recordable inter vivos deed, state the transfer occurs at the transferor's death, and be recorded before the transferor's death
- Transfer on death deeds remain exempt from excise tax since no property interest passes until the transferor's death and the deed remains revocable
Legislative Description
Relating generally to transfer on death deed
Estates and Trusts
Last Action
To House Judiciary
3/31/2025
Committee Referrals
Judiciary3/31/2025
Judiciary3/10/2025
Full Bill Text
No bill text available