Bill > HB06896

This bill adopts the Uniform Real Property Transfer on Death Act, which creates a new legal mechanism for property owners to transfer real estate directly to designated beneficiaries upon their death, bypassing the traditional probate process. The bill defines key terms like "transfer on death deed" (TOD deed) and establishes comprehensive rules for how these deeds work. Under the act, property owners can create a TOD deed that transfers their real property to specified beneficiaries immediately upon their death, without requiring the property to go through probate court. The deed is fully revocable during the owner's lifetime and does not affect the owner's ability to sell, transfer, or encumber the property before death. The bill includes detailed provisions about how the transfer works, including rules about beneficiary survival, joint ownership, and the rights of creditors. It also provides standardized forms for creating and revoking TOD deeds and specifies that the deed transfers property without warranties of title. Additionally, the bill makes consequential amendments to existing state laws to accommodate this new method of property transfer, ensuring that TOD deeds interact appropriately with existing statutes about spousal rights and inheritance. The act is set to take effect on October 1, 2025, and aims to provide property owners with a simple, flexible alternative to traditional estate planning methods.

Business and Industry

Insurance and Real Estate Committee (Joint)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06896&which_year=2025