Bill > SB651

This bill establishes a "transfer-on-death deed" for real property in Maryland, allowing property owners to designate beneficiaries who will automatically inherit the property upon the owner's death, bypassing the probate process, which is the legal process of validating a will and distributing assets. The bill outlines the requirements for creating, revoking, and recording these deeds, including specific forms for their creation and revocation, and clarifies that such deeds are non-testamentary (meaning they are not part of a will) and revocable by the owner during their lifetime. It also specifies that these deeds do not affect the transferor's rights to the property while they are alive, nor do they impact the beneficiary's eligibility for public assistance or expose the property to the beneficiary's creditors. Importantly, the bill exempts these transfer-on-death deeds from recordation and county transfer taxes when the property is a primary or secondary residence of the transferor, and it will apply retroactively to deeds executed before its effective date for transferors who die on or after October 1, 2026.