Uniform Real Property Transfer on Death Act
Thomas P. Gallanis (Julius E. Davis Professor of Law, University of Minnesota) recently wrote a memorandum regarding the latest draft of the Uniform Real Property Transfer on Death Act by the NCCULS.
The memo and draft can be summarized as follows:
One of the main innovations in the property law of the twentieth century has been the development of will substitutes for the transfer of property at death and the latest trend has focused on assets that are personal property. Several jurisdictions have enacted statutes expressly authorizing the non-probate transfer of land, the focus of the Uniform Property Transfer on Death Act.
The Act is divided into four articles. Article 1 contains general provisions. Article 2 authorizes transfer on death deeds and addresses the formal and substantive issues concerning such deeds. Article 3 contains suggested statutory forms and Article 4 contains miscellaneous provisions. The drafting committee welcomes and encourages comments and suggesting on all sections of the draft, particularly the Article 3 forms.