Bill > SB0984

This bill establishes the Uniform Real Property Transfer on Death Act in Tennessee, which creates a new legal mechanism for property owners to transfer real estate and motor vehicles to beneficiaries upon their death without going through probate. The act allows individuals to create a "transfer on death deed" that automatically transfers property ownership to a designated beneficiary when the original owner dies, while still allowing the original owner to retain full control and rights to the property during their lifetime. The deed must be recorded with the county register of deeds before the owner's death and can be revoked at any time. The bill provides detailed provisions for how these transfers work, including rules about joint ownership, beneficiary survival, and creditor claims. For motor vehicles, the act allows owners to designate beneficiaries directly on the certificate of title, with specific requirements for joint owners. The legislation applies to property transfers made on or after July 1, 2025, and is designed to provide a simpler, more flexible alternative to traditional estate planning methods like wills and trusts. Key protections are built in to prevent fraud, such as requiring notarization, allowing easy revocation, and providing notice forms that explain the implications of the transfer.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0984&ga=114