Panel advances bill allowing transfer‑on‑death deeds for real property
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Summary
House Bill 2124 would adopt a Uniform Real Property Transfer on Death Act permitting recorded deeds that transfer property at death outside probate; sponsors said the change could save probate costs and the committee unanimously reported the bill with an effective date 180 days.
House Bill 2124, sponsored by Representative Bonner with Chairman Briggs as co‑prime, would establish a nonexclusive transfer‑on‑death (TOD) deed for real property that takes effect on the owner's death and avoids probate for the transferred property. Counsel summarized the statutory formalities for a valid TOD, rules for revocation, joint‑owner treatment, tax and lien effects, and a slayer/elder‑abuse statutory application. Counsel said the bill takes effect in 180 days.
Rep. Bonner explained the mechanics and potential savings, noting probate attorney fees and delays can be significant. Rep. Kuzma, an estate‑planning attorney on the record, supported the bill as a useful additional tool for residents to avoid probate costs and delays and said it would benefit many homeowners for whom the house is the primary asset.
Counsel said TODs must meet deed formalities, be acknowledged and recorded prior to the owner's death to be effective, and that transferred property remains subject to encumbrances in place at death. The committee voted to report HB 2124 unanimously; sponsors and counsel said the bill is intended to create a uniform, optional mechanism and does not force property owners to use a TOD.