Current through the 2024 Legislative Session
Section 563-D:12 - Effect Of Transfer On Death Deed During Transferor's LifeDuring a transferor's life, a transfer on death deed does not:
I. Affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;II. Affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;III. Affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if the creditor has actual or constructive notice of the deed;IV. Affect the transferor's or designated beneficiary's eligibility for any form of public assistance;V. Create a legal or equitable interest in favor of the designated beneficiary; orVI. Subject the property to claims or process of a creditor of the designated beneficiary.Added by 2024, 1:1, eff. 7/1/2024.