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Committee advances bill narrowing insurance coverage tied to transfer-on-death deeds
Summary
The Indiana Senate Insurance and Financial Institutions Committee advanced House Bill 1213, which narrows insurance coverage imposed by last year’s transfer-on-death deed law to only real property for residential transfers and removes liability, commercial and personal-property coverage.
House Bill 1213 was advanced by the Senate Insurance and Financial Institutions Committee after a brief presentation and unanimous committee support during the hearing.
Representative Laymon, sponsor for HB 1213, told the committee the bill is a technical fix to House Bill 1034 from last year that addressed transfer-on-death deeds. "What this year is, there's a couple of things that went through last year that we knew we probably need to look at and tweak, and House Bill 12 13 is that tweak," Laymon said. He described the bill as restoring the original intent: to cover a deceased person's real property for a short transition period so a new owner can be notified without extending insurance protections beyond that purpose.
The bill removes proposed liability coverage and commercial and personal property protections that Laymon said were broader than intended. "We removed the personal property, the tangible things inside the home, and focused purely on what the intent was, which was the real property," Laymon said. He also said references that could have included automobiles were removed because no state had extended similar auto coverage.
Marty Wood of the Insurance Institute of Indiana and Annette Brogden of the Indiana State Bar Association testified in support. Wood said his testimony was consistent with the sponsor's presentation; Brogden said the State Bar Association supports HB 1213.
Committee leadership called the roll and the chair recorded an affirmative vote and reported that the bill "moves forward." Representative Laymon noted HB 1213 had passed the Indiana House 90-0 earlier in the session.
The committee did not debate further technical details during the hearing; the bill will proceed through the legislative process as advanced by the committee.
Ending: The committee action means HB 1213 will continue to the next required steps in the Senate process; no additional committee amendments were recorded during the hearing.
