Bill > HB464

This bill revises Montana insurance laws to clarify how property insurance is handled when a property owner dies and transfers real estate through a transfer on death (TOD) deed. Specifically, the bill ensures that real property insurance coverage continues automatically after the death of the original named insured, extending to the beneficiary who inherits the property through a TOD deed. The insurance coverage will remain in effect for up to 45 days after the owner's death or until the policy expires or a replacement policy is obtained, whichever comes first. The legislation amends two sections of Montana Code Annotated (MCA) - sections 33-15-206 and 72-6-412 - to explicitly state that a change of property interest through a TOD deed does not invalidate the existing property insurance. This means beneficiaries who inherit real property will be temporarily protected by the original insurance policy, providing continuity of coverage during the transition of property ownership. The bill takes effect immediately upon passage and approval.

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https://bills.legmt.gov/#/laws/bill/2/LC2361