January 15, 2010
New Rules for TOD
SB 124 requires that a designation of a beneficiary of a transfer on death of real property must be created by affidavit rather than a deed. This means that deeds may no longer be used.
The bill became effective immediately with the governor’s signature on Dec. 28, 2009, and does not affect existing transfer on death deeds filed prior to that date. A recommended affidavit form will be available soon. To view SB 124, click here.