NCCUSL Approves Drafting Committee for TOD for Real Property Act

The National Conference of Commissioners on Uniform State Laws reports that:

At its July 2006 annual meeting in Hilton Head, South Carolina, the Executive Committee of the National Conference of Commissioners on Uniform State Laws (NCCUSL) authorized the appointment of five new drafting committees and three new study committees.  These new committees will be appointed shortly. * * *

Drafting Committee on TOD for Real Property Act. This committee will draft an act that will permit real property to be transferred immediately upon death by beneficiary designation, similar to current beneficiary designations now used on securities accounts and life insurance.  At least eight states now permit this kind of real estate transfer on death.

Beneficiary deeds and Lady Bird deeds were discussed earlier on this blog.

Special thanks to Michael J. Hussey (Assistant Professor of Law, Widener University School of Law, Harrisburg Campus) for bringing NCCUSL’s action to my attention.