AB 139 (Gatto)

Nonprobate transfers: revocable transfer upon death deeds.

2015

Description:

Would, until January 1, 2021, create the revocable transfer on death deed (revocable TOD deed), as defined, which would transfer real property on the death of its owner without a probate proceeding. The bill would require that a person have testamentary capacity to make or revoke the deed and would require that the deed be in a statutory form provided for this purpose. The revocable TOD deed must be signed, dated, acknowledged, and recorded, as specified, to be effective. This bill contains other related provisions and other existing laws.

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