Print
Senate File 393 - IntroducedA Bill ForAn Act 1relating to creation of transfer on death deeds and to
2disclaimers of an interest in real property, and including
3applicability provisions.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 633F.1 Short title.
2This chapter may be cited as the “Uniform Real Property
3Transfer on Death Act”.
4 Sec. 2. NEW SECTION. 633F.2 Definitions.
5As used in this chapter, unless the context otherwise
6requires:
71. “Beneficiary” means a person that receives property under
8a transfer on death deed.
92. “Designated beneficiary” means a person designated to
10receive property in a transfer on death deed.
113. “Joint owner” means an individual who owns property
12concurrently with one or more other individuals with a right of
13survivorship. “Joint owner” includes a joint tenant and tenant
14by the entirety. “Joint owner” does not include a tenant in
15common.
164. “Person” means an individual, corporation, business
17trust, estate, trust, partnership, limited liability company,
18association, joint venture, public corporation, government or
19governmental subdivision, agency, or instrumentality, or any
20other legal or commercial entity.
215. “Property” means an interest in real property located in
22this state which is transferable on the death of the owner.
236. “Transfer on death deed” means a deed authorized under
24this chapter.
257. “Transferor” means an individual who makes a transfer on
26death deed.
27 Sec. 3. NEW SECTION. 633F.3 Applicability.
28This chapter applies to a transfer on death deed made before,
29on, or after the effective date of this Act by a transferor
30dying on or after the effective date of this Act.
31 Sec. 4. NEW SECTION. 633F.4 Nonexclusivity.
32This chapter does not affect any method of transferring
33property otherwise permitted under the law of this state.
34 Sec. 5. NEW SECTION. 633F.5 Transfer on death deed
35authorized.
-1- 1An individual may transfer property to one or more
2beneficiaries effective at the transferor’s death by a transfer
3on death deed.
4 Sec. 6. NEW SECTION. 633F.6 Transfer on death deed
5revocable.
6A transfer on death deed is revocable even if the deed or
7another instrument contains a contrary provision.
8 Sec. 7. NEW SECTION. 633F.7 Transfer on death deed
9nontestamentary.
10A transfer on death deed is nontestamentary.
11 Sec. 8. NEW SECTION. 633F.8 Capacity of transferor.
12The capacity required to make or revoke a transfer on death
13deed is the same as the capacity required to make a will.
14 Sec. 9. NEW SECTION. 633F.9 Requirements.
15A transfer on death deed:
161. Except as otherwise provided in subsection 2, must
17contain the essential elements and formalities of a properly
18recordable inter vivos deed.
192. Must state that the transfer to the designated
20beneficiary is to occur at the transferor’s death.
213. Must be recorded before the transferor’s death in the
22public records in the office of the county recorder in the
23county where the property is located.
24 Sec. 10. NEW SECTION. 633F.10 Notice, delivery, acceptance,
25consideration not required.
26A transfer on death deed is effective without any of the
27following:
281. Notice or delivery to or acceptance by the designated
29beneficiary during the transferor’s life.
302. Consideration.
31 Sec. 11. NEW SECTION. 633F.11 Revocation by instrument
32authorized — revocation by act not permitted.
331. Subject to subsection 2, an instrument is effective to
34revoke a recorded transfer on death deed, or any part of the
35deed, only if all of the following apply:
-2- 1a. The instrument is any of the following:
2(1) A transfer on death deed that revokes the deed or part
3of the deed expressly or by inconsistency.
4(2) An instrument of revocation that expressly revokes the
5deed or part of the deed.
6(3) An inter vivos deed that expressly revokes the transfer
7on death deed or part of the deed.
8b. The instrument is acknowledged by the transferor after
9the acknowledgment of the deed being revoked and is recorded
10before the transferor’s death in the public records in the
11office of the county recorder of the county where the deed is
12recorded.
132. If a transfer on death deed is made by more than one
14transferor, all of the following apply:
15a. Revocation by a transferor does not affect the deed as to
16the interest of another transferor.
17b. A deed of joint owners is revoked only if the deed is
18revoked by all of the living joint owners.
193. After a transfer on death deed is recorded, the deed
20cannot be revoked by a revocatory act on the deed.
214. This section does not limit the effect of an inter vivos
22transfer of the property.
23 Sec. 12. NEW SECTION. 633F.12 Effect of transfer on death
24deed during transferor’s life.
25During a transferor’s life, a transfer on death deed does not
26do any of the following:
271. Affect an interest or right of the transferor or any
28other owner, including the right to transfer or encumber the
29property.
302. Affect an interest or right of a transferee, even if the
31transferee has actual or constructive notice of the deed.
323. Affect an interest or right of a secured or unsecured
33creditor or future creditor of the transferor, even if the
34creditor has actual or constructive notice of the deed.
354. Affect the transferor’s or designated beneficiary’s
-3-1eligibility for any form of public assistance.
25. Create a legal or equitable interest in favor of the
3designated beneficiary.
46. Subject the property to claims or process of a creditor
5of the designated beneficiary.
6 Sec. 13. NEW SECTION. 633F.13 Effect of transfer on death
7deed at transferor’s death.
81. Except as otherwise provided in the transfer on death
9deed, in this section, or in section 633.238, 633.523, or
10633.535, upon the death of the transferor, the following rules
11apply to property that is the subject of a transfer on death
12deed and owned by the transferor at death:
13a. Subject to paragraph “b”, the interest in the property is
14transferred to the designated beneficiary in accordance with
15the deed.
16b. The interest of a designated beneficiary is contingent
17on the designated beneficiary surviving the transferor. The
18interest of a designated beneficiary that fails to survive the
19transferor lapses.
20c. Subject to paragraph “d”, concurrent interests are
21transferred to the beneficiaries in equal and undivided shares
22with no right of survivorship.
23d. If the transferor has identified two or more designated
24beneficiaries to receive concurrent interests in the property,
25the share of one which lapses or fails for any reason is
26transferred to the other, or to the others in proportion to the
27interest of each in the remaining part of the property held
28concurrently.
292. Subject to section 558.41, a beneficiary takes the
30property subject to all conveyances, encumbrances, assignments,
31contracts, mortgages, liens, and other interests to which the
32property is subject at the transferor’s death. For purposes
33of this subsection and section 558.41, the recording of the
34transfer on death deed is deemed to have occurred at the
35transferor’s death.
-4- 13. a. If a transferor is a joint owner and is survived
2by one or more other joint owners, the property that is the
3subject of a transfer on death deed belongs to the surviving
4joint owner or owners with right of survivorship.
5b. If a transferor is the last surviving joint owner, the
6transfer on death deed is effective.
74. A transfer on death deed transfers property without
8covenant or warranty of title even if the deed contains a
9contrary provision.
10 Sec. 14. NEW SECTION. 633F.14 Disclaimer.
11A beneficiary may disclaim all or part of the beneficiary’s
12interest as provided by chapter 633E.
13 Sec. 15. NEW SECTION. 633F.15 Liability for creditor claims
14and statutory allowances.
151. To the extent the transferor’s probate estate is
16insufficient to satisfy an allowed claim against the estate
17or a statutory allowance to a surviving spouse or child, the
18estate may enforce the liability against property transferred
19at the transferor’s death by a transfer on death deed.
202. If more than one property is transferred by one or more
21transfer on death deeds, the liability under subsection 1 is
22apportioned among the properties in proportion to the net
23values of the properties at the transferor’s death.
243. A proceeding to enforce the liability under this section
25must be commenced not later than eighteen months after the
26transferor’s death.
27 Sec. 16. NEW SECTION. 633F.16 Optional form of transfer
28on death deed.
29The following form may be used to create a transfer on death
30deed. The other sections of this chapter govern the effect of
31this or any other instrument used to create a transfer on death
32deed:
33(front of form)
34REVOCABLE TRANSFER ON DEATH DEED
35NOTICE TO OWNER
-5-1You should carefully read all information on the other side
2of this form. You may want to consult a lawyer before using
3this form.
4This form must be recorded before your death, or it will not
5be effective.
6IDENTIFYING INFORMATION
7Owner or owners making this deed
8______________________________________________________
9Printed nameMailing address
10______________________________________________________
11Printed nameMailing address
12Legal description of the property
13__________________________________________________________
14PRIMARY BENEFICIARY
15I designate the following beneficiary if the beneficiary
16survives me.
17______________________________________________________
18Printed nameMailing address, if available
19ALTERNATE BENEFICIARY – Optional
20If my primary beneficiary does not survive me, I designate
21the following alternate beneficiary if that beneficiary
22survives me.
23______________________________________________________
24Printed nameMailing address, if available
25TRANSFER ON DEATH
26At my death, I transfer my interest in the described property
27to the beneficiaries as designated above.
28Before my death, I have the right to revoke this deed.
29SIGNATURE OF OWNER OR OWNERS MAKING THIS DEED
30 Seal, if any
31SignatureDate
32______________________________________________________
33 Seal, if any
34SignatureDate
35______________________________________________________
-6-1ACKNOWLEDGMENT
2(insert acknowledgment for deed here)
3(back of form)
4COMMON QUESTIONS ABOUT THE USE OF THIS FORM
5What does the Transfer on Death (TOD) deed do?
6When you die, this deed transfers the described property,
7subject to any liens or mortgages (or other encumbrances) on
8the property at your death. Probate is not required. The TOD
9deed has no effect until you die. You can revoke it at any
10time. You are also free to transfer the property to someone
11else during your lifetime. If you do not own any interest in
12the property when you die, this deed will have no effect.
13How do I make a TOD deed?
14Complete this form. Have it acknowledged before a
15notary public or other individual authorized by law to take
16acknowledgments. Record the form in each county where any part
17of the property is located. The form has no effect unless it is
18acknowledged and recorded before your death.
19Is the legal description of the property necessary?
20Yes.
21How do I find the legal description of the property?
22This information may be on the deed you received when you
23became an owner of the property. This information may also be
24available in the office of the county recorder for the county
25where the property is located. If you are not absolutely sure,
26consult a lawyer.
27Can I change my mind before I record the TOD deed?
28Yes. If you have not yet recorded the deed and want to
29change your mind, simply tear up or otherwise destroy the deed.
30How do I record the TOD deed?
31Take the completed and acknowledged form to the office
32of the county recorder of the county where the property is
33located. Follow the instructions given by the county recorder
34to make the form part of the official property records. If the
35property is in more than one county, you should record the deed
-7-1in each county.
2Can I later revoke the TOD deed if I change my mind?
3Yes. You can revoke the TOD deed. No one, including the
4beneficiaries, can prevent you from revoking the deed.
5How do I revoke the TOD deed after it is recorded?
6There are three ways to revoke a recorded TOD deed: [1]
7Complete and acknowledge a revocation form, and record it in
8each county where the property is located. [2] Complete and
9acknowledge a new TOD deed that disposes of the same property,
10and record it in each county where the property is located.
11[3] Transfer the property to someone else during your lifetime
12by a recorded deed that expressly revokes the TOD deed. You
13may not revoke the TOD deed by will.
14I am being pressured to complete this form. What should I
15do?
16Do not complete this form under pressure. Seek help from a
17trusted family member, friend, or lawyer.
18Do I need to tell the beneficiaries about the TOD deed?
19No, but it is recommended. Secrecy can cause later
20complications and might make it easier for others to commit
21fraud.
22I have other questions about this form. What should I do?
23This form is designed to fit some but not all situations.
24If you have other questions, you are encouraged to consult a
25lawyer.
26 Sec. 17. NEW SECTION. 633F.17 Optional form of revocation.
27The following form may be used to create an instrument of
28revocation under this chapter. The other sections of this
29chapter govern the effect of this or any other instrument used
30to revoke a transfer on death deed.
31(front of form)
32REVOCATION OF TRANSFER ON DEATH DEED
33NOTICE TO OWNER
34This revocation must be recorded before you die or it will
35not be effective. This revocation is effective only as to the
-8-1interests in the property of owners who sign this revocation.
2IDENTIFYING INFORMATION
3Owner or owners of property making this revocation
4______________________________________________________
5Printed nameMailing address
6______________________________________________________
7Printed nameMailing address
8Legal description of the property
9__________________________________________________________
10REVOCATION
11I revoke all my previous transfers of this property by
12transfer on death deed.
13SIGNATURE OF OWNER OR OWNERS MAKING THIS REVOCATION
14 Seal, if any
15SignatureDate
16______________________________________________________
17 Seal, if any
18SignatureDate
19______________________________________________________
20ACKNOWLEDGMENT
21(insert acknowledgment here)
22(back of form)
23COMMON QUESTIONS ABOUT THE USE OF THIS FORM
24How do I use this form to revoke a Transfer on Death (TOD)
25deed?
26Complete this form. Have it acknowledged before a notary
27public or other individual authorized to take acknowledgments.
28Record the form in the public records in the office of the
29county recorder of each county where the property is located.
30The form must be acknowledged and recorded before your death or
31it has no effect.
32How do I find the legal description of the property?
33This information may be on the TOD deed. It may also be
34available in the office of the county recorder for the county
35where the property is located. If you are not absolutely sure,
-9-1consult a lawyer.
2How do I record the form?
3Take the completed and acknowledged form to the office
4of the county recorder of the county where the property is
5located. Follow the instructions given by the county recorder
6to make the form part of the official property records. If the
7property is located in more than one county, you should record
8the form in each county.
9I am being pressured to complete this form. What should I
10do?
11Do not complete this form under pressure. Seek help from a
12trusted family member, friend, or lawyer.
13I have other questions about this form. What should I do?
14This form is designed to fit some but not all situations.
15If you have other questions, you are encouraged to consult a
16lawyer.
17 Sec. 18. NEW SECTION. 633F.18 Uniformity of application
18and construction.
19In applying and construing this uniform Act, consideration
20shall be given to the need to promote uniformity of the law
21with respect to the subject matter of this chapter among the
22states that enact it.
23 Sec. 19. NEW SECTION. 633F.19 Relation to Electronic
24Signatures in Global and National Commerce Act.
25This chapter modifies, limits, and supersedes the federal
26Electronic Signatures in Global and National Commerce Act, 15
27U.S.C. §7001, et seq., but does not modify, limit, or supersede
28section 101(c) of that Act, 15 U.S.C. §7001(c), or authorize
29electronic delivery of any of the notices described in section
30103(b) of that Act, 15 U.S.C. §7003(b).
31 Sec. 20. Section 331.602, Code 2017, is amended by adding
32the following new subsection:
33 NEW SUBSECTION. 33. Record a transfer on death deed created
34pursuant to section 633F.5 or an instrument of revocation
35authorized by section 633F.11 and presented to the recorder’s
-10-1office for recording in the same manner as other deeds are
2recorded. The recorder shall collect a fee under section
3331.604 for the recording of the transfer on death deed or
4instrument of revocation and shall index the transfer on death
5deed or instrument of revocation in the name of the owner of
6record of the real property or interest in the real property
7who executed the transfer on death deed.
8 Sec. 21. Section 633E.12, subsections 6 and 7, Code 2017,
9are amended to read as follows:
106. In the case of a disclaimer of an interest created by
11a beneficiary designation made which is disclaimed before the
12time the designation becomes irrevocable, the disclaimer must
13be delivered to the person making the beneficiary designation.
147. In the case of a disclaimer of an interest created by
15a beneficiary designation made which is disclaimed after the
16time the designation becomes irrevocable, the disclaimer of an
17interest in personal property must be delivered to the person
18obligated to distribute the interest and the disclaimer of an
19interest in real property must be recorded in the office of the
20county recorder of the county where the real property that is
21the subject of the disclaimer is located.
22EXPLANATION
23The inclusion of this explanation does not constitute agreement with
24the explanation’s substance by the members of the general assembly.
25This bill provides that an individual may execute a transfer
26on death deed which transfers real property outside of probate
27to one or more beneficiaries effective at the transferor’s
28death.
29To be valid, a transfer on death deed must contain the
30essential elements and formalities of a properly recordable
31inter vivos deed, state that the transfer to the designated
32beneficiary is to occur at the transferor’s death, and be
33recorded before the transferor’s death in the office of the
34county recorder.
35A transfer on death deed is revocable, even if the deed
-11-1states that the deed is irrevocable. A transferor may revoke
2a transfer on death deed by acknowledging and recording an
3inconsistent transfer on death deed, or an instrument of
4revocation or inter vivos deed that expressly revokes the deed.
5A transfer on death dead is nontestamentary, and the
6capacity required to make or revoke a transfer on death deed is
7the same capacity required to make a will.
8A transfer on death deed is effective even if the beneficiary
9does not receive notice or delivery of the deed during the
10transferor’s lifetime, and even if the transferor does not
11receive consideration for the deed.
12During the transferor’s lifetime, a transfer on death deed
13does not affect the transferor’s interest in the property,
14including the right to transfer or encumber the property, nor
15does the transfer on death deed create a legal or equitable
16interest in favor of the designated beneficiary or subject the
17property to claims of a creditor of the designated beneficiary.
18If the transferor transfers the property that is the subject
19of a transfer of death deed before the transferor’s death, the
20transfer on death deed is of no effect at the death of the
21transferor.
22At the death of the transferor, subject to Code sections
23633.238 (elective share of surviving spouse), 633.523 through
24633.538 (uniform simultaneous death act), and 633.535 through
25633.537 (felonious death), the property is transferred to the
26designated beneficiary if the designated beneficiary is alive.
27If the designated beneficiary predeceases the transferor, the
28interest of the designated beneficiary lapses.
29Subject to Code section 558.41 (recording), a beneficiary
30who takes property under a transfer on death deed takes the
31property subject to all conveyances, encumbrances, assignments,
32contracts, mortgages, liens, and other interests to which the
33property is subject at the transferor’s death.
34If the transferor owns the property as a joint tenant or as
35a tenant by the entirety, the transfer on death deed is only
-12-1effective if the transferor is the last surviving joint tenant
2or tenant by the entirety.
3A beneficiary may disclaim all or part of the beneficiary’s
4interest as provided by Code chapter 633E (uniform disclaimer
5of property interest Act).
6To the extent that the transferor’s probate estate is
7insufficient to satisfy an allowed claim against the estate
8or a statutory allowance to a surviving spouse or child, the
9estate may enforce the liability against property transferred
10at the transferor’s death by a transfer on death deed.
11The bill provides an optional form of a transfer on death
12deed and an optional form for the revocation of a transfer on
13death deed.
14The bill does not affect any deed executed and recorded prior
15to the effective date of the bill and applies to a transfer on
16death deed made before, on, or after the effective date of the
17bill by a transferor dying on or after the effective date of
18the bill.
19The bill makes conforming changes.
-13-jh/rj
2disclaimers of an interest in real property, and including
3applicability provisions.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 633F.1 Short title.
2This chapter may be cited as the “Uniform Real Property
3Transfer on Death Act”.
4 Sec. 2. NEW SECTION. 633F.2 Definitions.
5As used in this chapter, unless the context otherwise
6requires:
71. “Beneficiary” means a person that receives property under
8a transfer on death deed.
92. “Designated beneficiary” means a person designated to
10receive property in a transfer on death deed.
113. “Joint owner” means an individual who owns property
12concurrently with one or more other individuals with a right of
13survivorship. “Joint owner” includes a joint tenant and tenant
14by the entirety. “Joint owner” does not include a tenant in
15common.
164. “Person” means an individual, corporation, business
17trust, estate, trust, partnership, limited liability company,
18association, joint venture, public corporation, government or
19governmental subdivision, agency, or instrumentality, or any
20other legal or commercial entity.
215. “Property” means an interest in real property located in
22this state which is transferable on the death of the owner.
236. “Transfer on death deed” means a deed authorized under
24this chapter.
257. “Transferor” means an individual who makes a transfer on
26death deed.
27 Sec. 3. NEW SECTION. 633F.3 Applicability.
28This chapter applies to a transfer on death deed made before,
29on, or after the effective date of this Act by a transferor
30dying on or after the effective date of this Act.
31 Sec. 4. NEW SECTION. 633F.4 Nonexclusivity.
32This chapter does not affect any method of transferring
33property otherwise permitted under the law of this state.
34 Sec. 5. NEW SECTION. 633F.5 Transfer on death deed
35authorized.
-1- 1An individual may transfer property to one or more
2beneficiaries effective at the transferor’s death by a transfer
3on death deed.
4 Sec. 6. NEW SECTION. 633F.6 Transfer on death deed
5revocable.
6A transfer on death deed is revocable even if the deed or
7another instrument contains a contrary provision.
8 Sec. 7. NEW SECTION. 633F.7 Transfer on death deed
9nontestamentary.
10A transfer on death deed is nontestamentary.
11 Sec. 8. NEW SECTION. 633F.8 Capacity of transferor.
12The capacity required to make or revoke a transfer on death
13deed is the same as the capacity required to make a will.
14 Sec. 9. NEW SECTION. 633F.9 Requirements.
15A transfer on death deed:
161. Except as otherwise provided in subsection 2, must
17contain the essential elements and formalities of a properly
18recordable inter vivos deed.
192. Must state that the transfer to the designated
20beneficiary is to occur at the transferor’s death.
213. Must be recorded before the transferor’s death in the
22public records in the office of the county recorder in the
23county where the property is located.
24 Sec. 10. NEW SECTION. 633F.10 Notice, delivery, acceptance,
25consideration not required.
26A transfer on death deed is effective without any of the
27following:
281. Notice or delivery to or acceptance by the designated
29beneficiary during the transferor’s life.
302. Consideration.
31 Sec. 11. NEW SECTION. 633F.11 Revocation by instrument
32authorized — revocation by act not permitted.
331. Subject to subsection 2, an instrument is effective to
34revoke a recorded transfer on death deed, or any part of the
35deed, only if all of the following apply:
-2- 1a. The instrument is any of the following:
2(1) A transfer on death deed that revokes the deed or part
3of the deed expressly or by inconsistency.
4(2) An instrument of revocation that expressly revokes the
5deed or part of the deed.
6(3) An inter vivos deed that expressly revokes the transfer
7on death deed or part of the deed.
8b. The instrument is acknowledged by the transferor after
9the acknowledgment of the deed being revoked and is recorded
10before the transferor’s death in the public records in the
11office of the county recorder of the county where the deed is
12recorded.
132. If a transfer on death deed is made by more than one
14transferor, all of the following apply:
15a. Revocation by a transferor does not affect the deed as to
16the interest of another transferor.
17b. A deed of joint owners is revoked only if the deed is
18revoked by all of the living joint owners.
193. After a transfer on death deed is recorded, the deed
20cannot be revoked by a revocatory act on the deed.
214. This section does not limit the effect of an inter vivos
22transfer of the property.
23 Sec. 12. NEW SECTION. 633F.12 Effect of transfer on death
24deed during transferor’s life.
25During a transferor’s life, a transfer on death deed does not
26do any of the following:
271. Affect an interest or right of the transferor or any
28other owner, including the right to transfer or encumber the
29property.
302. Affect an interest or right of a transferee, even if the
31transferee has actual or constructive notice of the deed.
323. Affect an interest or right of a secured or unsecured
33creditor or future creditor of the transferor, even if the
34creditor has actual or constructive notice of the deed.
354. Affect the transferor’s or designated beneficiary’s
-3-1eligibility for any form of public assistance.
25. Create a legal or equitable interest in favor of the
3designated beneficiary.
46. Subject the property to claims or process of a creditor
5of the designated beneficiary.
6 Sec. 13. NEW SECTION. 633F.13 Effect of transfer on death
7deed at transferor’s death.
81. Except as otherwise provided in the transfer on death
9deed, in this section, or in section 633.238, 633.523, or
10633.535, upon the death of the transferor, the following rules
11apply to property that is the subject of a transfer on death
12deed and owned by the transferor at death:
13a. Subject to paragraph “b”, the interest in the property is
14transferred to the designated beneficiary in accordance with
15the deed.
16b. The interest of a designated beneficiary is contingent
17on the designated beneficiary surviving the transferor. The
18interest of a designated beneficiary that fails to survive the
19transferor lapses.
20c. Subject to paragraph “d”, concurrent interests are
21transferred to the beneficiaries in equal and undivided shares
22with no right of survivorship.
23d. If the transferor has identified two or more designated
24beneficiaries to receive concurrent interests in the property,
25the share of one which lapses or fails for any reason is
26transferred to the other, or to the others in proportion to the
27interest of each in the remaining part of the property held
28concurrently.
292. Subject to section 558.41, a beneficiary takes the
30property subject to all conveyances, encumbrances, assignments,
31contracts, mortgages, liens, and other interests to which the
32property is subject at the transferor’s death. For purposes
33of this subsection and section 558.41, the recording of the
34transfer on death deed is deemed to have occurred at the
35transferor’s death.
-4- 13. a. If a transferor is a joint owner and is survived
2by one or more other joint owners, the property that is the
3subject of a transfer on death deed belongs to the surviving
4joint owner or owners with right of survivorship.
5b. If a transferor is the last surviving joint owner, the
6transfer on death deed is effective.
74. A transfer on death deed transfers property without
8covenant or warranty of title even if the deed contains a
9contrary provision.
10 Sec. 14. NEW SECTION. 633F.14 Disclaimer.
11A beneficiary may disclaim all or part of the beneficiary’s
12interest as provided by chapter 633E.
13 Sec. 15. NEW SECTION. 633F.15 Liability for creditor claims
14and statutory allowances.
151. To the extent the transferor’s probate estate is
16insufficient to satisfy an allowed claim against the estate
17or a statutory allowance to a surviving spouse or child, the
18estate may enforce the liability against property transferred
19at the transferor’s death by a transfer on death deed.
202. If more than one property is transferred by one or more
21transfer on death deeds, the liability under subsection 1 is
22apportioned among the properties in proportion to the net
23values of the properties at the transferor’s death.
243. A proceeding to enforce the liability under this section
25must be commenced not later than eighteen months after the
26transferor’s death.
27 Sec. 16. NEW SECTION. 633F.16 Optional form of transfer
28on death deed.
29The following form may be used to create a transfer on death
30deed. The other sections of this chapter govern the effect of
31this or any other instrument used to create a transfer on death
32deed:
33(front of form)
34REVOCABLE TRANSFER ON DEATH DEED
35NOTICE TO OWNER
-5-1You should carefully read all information on the other side
2of this form. You may want to consult a lawyer before using
3this form.
4This form must be recorded before your death, or it will not
5be effective.
6IDENTIFYING INFORMATION
7Owner or owners making this deed
8______________________________________________________
9Printed nameMailing address
10______________________________________________________
11Printed nameMailing address
12Legal description of the property
13__________________________________________________________
14PRIMARY BENEFICIARY
15I designate the following beneficiary if the beneficiary
16survives me.
17______________________________________________________
18Printed nameMailing address, if available
19ALTERNATE BENEFICIARY – Optional
20If my primary beneficiary does not survive me, I designate
21the following alternate beneficiary if that beneficiary
22survives me.
23______________________________________________________
24Printed nameMailing address, if available
25TRANSFER ON DEATH
26At my death, I transfer my interest in the described property
27to the beneficiaries as designated above.
28Before my death, I have the right to revoke this deed.
29SIGNATURE OF OWNER OR OWNERS MAKING THIS DEED
30 Seal, if any
31SignatureDate
32______________________________________________________
33 Seal, if any
34SignatureDate
35______________________________________________________
-6-1ACKNOWLEDGMENT
2(insert acknowledgment for deed here)
3(back of form)
4COMMON QUESTIONS ABOUT THE USE OF THIS FORM
5What does the Transfer on Death (TOD) deed do?
6When you die, this deed transfers the described property,
7subject to any liens or mortgages (or other encumbrances) on
8the property at your death. Probate is not required. The TOD
9deed has no effect until you die. You can revoke it at any
10time. You are also free to transfer the property to someone
11else during your lifetime. If you do not own any interest in
12the property when you die, this deed will have no effect.
13How do I make a TOD deed?
14Complete this form. Have it acknowledged before a
15notary public or other individual authorized by law to take
16acknowledgments. Record the form in each county where any part
17of the property is located. The form has no effect unless it is
18acknowledged and recorded before your death.
19Is the legal description of the property necessary?
20Yes.
21How do I find the legal description of the property?
22This information may be on the deed you received when you
23became an owner of the property. This information may also be
24available in the office of the county recorder for the county
25where the property is located. If you are not absolutely sure,
26consult a lawyer.
27Can I change my mind before I record the TOD deed?
28Yes. If you have not yet recorded the deed and want to
29change your mind, simply tear up or otherwise destroy the deed.
30How do I record the TOD deed?
31Take the completed and acknowledged form to the office
32of the county recorder of the county where the property is
33located. Follow the instructions given by the county recorder
34to make the form part of the official property records. If the
35property is in more than one county, you should record the deed
-7-1in each county.
2Can I later revoke the TOD deed if I change my mind?
3Yes. You can revoke the TOD deed. No one, including the
4beneficiaries, can prevent you from revoking the deed.
5How do I revoke the TOD deed after it is recorded?
6There are three ways to revoke a recorded TOD deed: [1]
7Complete and acknowledge a revocation form, and record it in
8each county where the property is located. [2] Complete and
9acknowledge a new TOD deed that disposes of the same property,
10and record it in each county where the property is located.
11[3] Transfer the property to someone else during your lifetime
12by a recorded deed that expressly revokes the TOD deed. You
13may not revoke the TOD deed by will.
14I am being pressured to complete this form. What should I
15do?
16Do not complete this form under pressure. Seek help from a
17trusted family member, friend, or lawyer.
18Do I need to tell the beneficiaries about the TOD deed?
19No, but it is recommended. Secrecy can cause later
20complications and might make it easier for others to commit
21fraud.
22I have other questions about this form. What should I do?
23This form is designed to fit some but not all situations.
24If you have other questions, you are encouraged to consult a
25lawyer.
26 Sec. 17. NEW SECTION. 633F.17 Optional form of revocation.
27The following form may be used to create an instrument of
28revocation under this chapter. The other sections of this
29chapter govern the effect of this or any other instrument used
30to revoke a transfer on death deed.
31(front of form)
32REVOCATION OF TRANSFER ON DEATH DEED
33NOTICE TO OWNER
34This revocation must be recorded before you die or it will
35not be effective. This revocation is effective only as to the
-8-1interests in the property of owners who sign this revocation.
2IDENTIFYING INFORMATION
3Owner or owners of property making this revocation
4______________________________________________________
5Printed nameMailing address
6______________________________________________________
7Printed nameMailing address
8Legal description of the property
9__________________________________________________________
10REVOCATION
11I revoke all my previous transfers of this property by
12transfer on death deed.
13SIGNATURE OF OWNER OR OWNERS MAKING THIS REVOCATION
14 Seal, if any
15SignatureDate
16______________________________________________________
17 Seal, if any
18SignatureDate
19______________________________________________________
20ACKNOWLEDGMENT
21(insert acknowledgment here)
22(back of form)
23COMMON QUESTIONS ABOUT THE USE OF THIS FORM
24How do I use this form to revoke a Transfer on Death (TOD)
25deed?
26Complete this form. Have it acknowledged before a notary
27public or other individual authorized to take acknowledgments.
28Record the form in the public records in the office of the
29county recorder of each county where the property is located.
30The form must be acknowledged and recorded before your death or
31it has no effect.
32How do I find the legal description of the property?
33This information may be on the TOD deed. It may also be
34available in the office of the county recorder for the county
35where the property is located. If you are not absolutely sure,
-9-1consult a lawyer.
2How do I record the form?
3Take the completed and acknowledged form to the office
4of the county recorder of the county where the property is
5located. Follow the instructions given by the county recorder
6to make the form part of the official property records. If the
7property is located in more than one county, you should record
8the form in each county.
9I am being pressured to complete this form. What should I
10do?
11Do not complete this form under pressure. Seek help from a
12trusted family member, friend, or lawyer.
13I have other questions about this form. What should I do?
14This form is designed to fit some but not all situations.
15If you have other questions, you are encouraged to consult a
16lawyer.
17 Sec. 18. NEW SECTION. 633F.18 Uniformity of application
18and construction.
19In applying and construing this uniform Act, consideration
20shall be given to the need to promote uniformity of the law
21with respect to the subject matter of this chapter among the
22states that enact it.
23 Sec. 19. NEW SECTION. 633F.19 Relation to Electronic
24Signatures in Global and National Commerce Act.
25This chapter modifies, limits, and supersedes the federal
26Electronic Signatures in Global and National Commerce Act, 15
27U.S.C. §7001, et seq., but does not modify, limit, or supersede
28section 101(c) of that Act, 15 U.S.C. §7001(c), or authorize
29electronic delivery of any of the notices described in section
30103(b) of that Act, 15 U.S.C. §7003(b).
31 Sec. 20. Section 331.602, Code 2017, is amended by adding
32the following new subsection:
33 NEW SUBSECTION. 33. Record a transfer on death deed created
34pursuant to section 633F.5 or an instrument of revocation
35authorized by section 633F.11 and presented to the recorder’s
-10-1office for recording in the same manner as other deeds are
2recorded. The recorder shall collect a fee under section
3331.604 for the recording of the transfer on death deed or
4instrument of revocation and shall index the transfer on death
5deed or instrument of revocation in the name of the owner of
6record of the real property or interest in the real property
7who executed the transfer on death deed.
8 Sec. 21. Section 633E.12, subsections 6 and 7, Code 2017,
9are amended to read as follows:
106. In the case of a disclaimer of an interest created by
11a beneficiary designation made which is disclaimed before the
12time the designation becomes irrevocable, the disclaimer must
13be delivered to the person making the beneficiary designation.
147. In the case of a disclaimer of an interest created by
15a beneficiary designation made which is disclaimed after the
16time the designation becomes irrevocable, the disclaimer of an
17interest in personal property must be delivered to the person
18obligated to distribute the interest and the disclaimer of an
19interest in real property must be recorded in the office of the
20county recorder of the county where the real property that is
21the subject of the disclaimer is located.
22EXPLANATION
23The inclusion of this explanation does not constitute agreement with
24the explanation’s substance by the members of the general assembly.
25This bill provides that an individual may execute a transfer
26on death deed which transfers real property outside of probate
27to one or more beneficiaries effective at the transferor’s
28death.
29To be valid, a transfer on death deed must contain the
30essential elements and formalities of a properly recordable
31inter vivos deed, state that the transfer to the designated
32beneficiary is to occur at the transferor’s death, and be
33recorded before the transferor’s death in the office of the
34county recorder.
35A transfer on death deed is revocable, even if the deed
-11-1states that the deed is irrevocable. A transferor may revoke
2a transfer on death deed by acknowledging and recording an
3inconsistent transfer on death deed, or an instrument of
4revocation or inter vivos deed that expressly revokes the deed.
5A transfer on death dead is nontestamentary, and the
6capacity required to make or revoke a transfer on death deed is
7the same capacity required to make a will.
8A transfer on death deed is effective even if the beneficiary
9does not receive notice or delivery of the deed during the
10transferor’s lifetime, and even if the transferor does not
11receive consideration for the deed.
12During the transferor’s lifetime, a transfer on death deed
13does not affect the transferor’s interest in the property,
14including the right to transfer or encumber the property, nor
15does the transfer on death deed create a legal or equitable
16interest in favor of the designated beneficiary or subject the
17property to claims of a creditor of the designated beneficiary.
18If the transferor transfers the property that is the subject
19of a transfer of death deed before the transferor’s death, the
20transfer on death deed is of no effect at the death of the
21transferor.
22At the death of the transferor, subject to Code sections
23633.238 (elective share of surviving spouse), 633.523 through
24633.538 (uniform simultaneous death act), and 633.535 through
25633.537 (felonious death), the property is transferred to the
26designated beneficiary if the designated beneficiary is alive.
27If the designated beneficiary predeceases the transferor, the
28interest of the designated beneficiary lapses.
29Subject to Code section 558.41 (recording), a beneficiary
30who takes property under a transfer on death deed takes the
31property subject to all conveyances, encumbrances, assignments,
32contracts, mortgages, liens, and other interests to which the
33property is subject at the transferor’s death.
34If the transferor owns the property as a joint tenant or as
35a tenant by the entirety, the transfer on death deed is only
-12-1effective if the transferor is the last surviving joint tenant
2or tenant by the entirety.
3A beneficiary may disclaim all or part of the beneficiary’s
4interest as provided by Code chapter 633E (uniform disclaimer
5of property interest Act).
6To the extent that the transferor’s probate estate is
7insufficient to satisfy an allowed claim against the estate
8or a statutory allowance to a surviving spouse or child, the
9estate may enforce the liability against property transferred
10at the transferor’s death by a transfer on death deed.
11The bill provides an optional form of a transfer on death
12deed and an optional form for the revocation of a transfer on
13death deed.
14The bill does not affect any deed executed and recorded prior
15to the effective date of the bill and applies to a transfer on
16death deed made before, on, or after the effective date of the
17bill by a transferor dying on or after the effective date of
18the bill.
19The bill makes conforming changes.
-13-jh/rj