Bill
Bill > LB422
NE LB422
Change provisions of the Nebraska Uniform Real Property Transfer on Death Act
summary
Introduced
01/17/2025
01/17/2025
In Committee
01/22/2025
01/22/2025
Crossed Over
05/09/2025
05/09/2025
Passed
06/02/2025
06/02/2025
Dead
Signed/Enacted/Adopted
06/02/2025
06/02/2025
Introduced Session
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to the Nebraska Uniform Real Property Transfer on Death Act; to amend sections 76-3401 and 76-3410, Reissue Revised Statutes of Nebraska; to change provisions relating to required warnings on transfer on death deeds and insurance policies on certain real property; to harmonize provisions; and to repeal the original sections.
AI Summary
This bill modifies the Nebraska Uniform Real Property Transfer on Death Act by updating requirements for transfer on death deeds and property insurance coverage. Specifically, the bill adds a new warning to transfer on death deeds that explains potential property insurance implications after the property owner's death. The new warning informs designated beneficiaries that property insurance may expire 30 days after the transferor's death unless the beneficiary is added to the policy or alternative coverage is obtained. Additionally, the bill introduces a new section clarifying insurance coverage for beneficiaries, which effectively ensures that the designated beneficiary is considered an insured party under the existing property insurance policy for a limited time after the transferor's death. This helps protect the beneficiary's interests during the transition period following the property transfer. The changes aim to provide more transparency and protection for individuals using transfer on death deeds by clearly outlining potential insurance and financial risks associated with inheriting real property.
Committee Categories
Justice
Sponsors (1)
Last Action
Approved by Governor on May 30, 2025 (on 06/02/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59337 |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Slip/LB422.pdf |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Final/LB422.pdf |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Engrossed/LB422.pdf |
Judiciary AM841 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/AM841.pdf |
Analysis - Committee Statement | https://nebraskalegislature.gov/FloorDocs/109/PDF/CS/LB422.pdf |
Fiscal Note for LB422 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB422_20250226-115213.pdf |
Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB422.pdf |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB422.pdf |
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