75-6-412. Effect of transfer on death deed during transferor's life.
142 words·~1 min read·
/ut/title-75/chapter-6/75-6-412A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/8/2018
75-6-412. Effect of transfer on death deed during transferor's life.
During a transferor's life, a transfer on death deed does not:
(1)affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;
(2)affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;
(3)affect an interest or right of the transferor's secured or unsecured creditors or future creditors, even if they have actual or constructive notice of the deed;
(4)affect the transferor's or designated beneficiary's eligibility for any form of public assistance;
(5)create a legal or equitable interest in favor of the designated beneficiary; or
(6)subject the property to claims or process of the designated beneficiary's creditors.
Enacted by Chapter 26 , 2018 General Session