Bill > HB1224

This bill amends North Dakota law to increase the threshold for small estate administration from $50,000 to $100,000, which allows heirs or successors to more easily collect a deceased person's personal property and financial assets without going through a formal probate process. Under the revised law, 30 days after a person's death, individuals or institutions holding the decedent's property can transfer assets to a successor who provides an affidavit (a sworn written statement) meeting specific requirements. These requirements include confirming that the total estate value is under $100,000, thirty days have passed since the death, no personal representative application is pending, and the person claiming the assets is legally entitled to them. The bill also maintains provisions allowing transfer agents to change registered ownership of securities based on such an affidavit. This change simplifies the process for transferring smaller estates, potentially reducing legal complexity and costs for families dealing with a loved one's estate.

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https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1224.html