BillTrack50 logo
Free Signup Login
Bill

Bill > HB1600

TN HB1600

TN HB1600
AN ACT to amend Tennessee Code Annotated, Title 30; Title 31; Title 32; Title 35; Title 55; Title 66 and Section 67-4-409, relative to the automatic transfer of property upon death.

summary

Introduced
02/24/2021
In Committee
03/01/2021
Crossed Over
Passed
Dead
04/28/2022

Introduced Session

112th General Assembly

Bill Summary

As introduced, enacts the "Tennessee Uniform Real Property Transfer on Death Act"; authorizes real property and motor vehicles to be transferred upon an owner's death to a designated beneficiary. - Amends TCA Title 30; Title 31; Title 32; Title 35; Title 55; Title 66 and Section 67-4-409.

AI Summary

This bill enacts the "Tennessee Uniform Real Property Transfer on Death Act," which authorizes the transfer of real property and motor vehicles to a designated beneficiary upon the owner's death. Key provisions include: - Allowing individuals to transfer property to one or more beneficiaries upon their death through a "transfer on death deed" that must be recorded before the owner's death. - Providing rules for how the property transfers to the beneficiary and what interests the beneficiary takes. - Allowing the owner to revoke the transfer on death deed during their lifetime. - Authorizing the transfer of motor vehicle ownership to a designated beneficiary through the certificate of title. - Exempting these transfers from certain taxes and fees. - Applying the provisions to transfers made before, on, or after the effective date of July 1, 2021 for owners who die on or after that date.

Committee Categories

Justice

Sponsors (1)

Last Action

Assigned to s/c Children & Family Affairs Subcommittee (on 03/01/2021)
(1 Companion Bills)

bill text

bill summary

Loading...

bill summary

Loading...
Loading...