Introduced Version






HOUSE BILL No. 1254

_____


DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-1.1-5-7; IC 32-21-12.

Synopsis: Transfer on death deed. Authorizes an owner of real property to transfer ownership of the real property upon the death of the owner by using a transfer on death deed. Provides that a transfer on death deed must be recorded to be valid. Requires the recording of the grantor's death certificate and other documents after the death of the grantor.

Effective: July 1, 2006.





Goodin




    January 10, 2006, read first time and referred to Committee on Judiciary.







Introduced

Second Regular Session 114th General Assembly (2006)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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HOUSE BILL No. 1254



    A BILL FOR AN ACT to amend the Indiana Code concerning property.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-1.1-5-7; (06)IN1254.1.1. -->     SECTION 1. IC 6-1.1-5-7 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2006]: Sec. 7. (a) A person to whom the title to real property has passed, either under the laws of descent of this state, by a transfer on death deed executed under IC 32-21-12, or by virtue of the last will of a decedent, may procure a transfer of the real property on the tax duplicate on which the real property is assessed and taxed. In order to procure the transfer, the person must prepare an affidavit and, except as provided in section 9 of this chapter, file it with the auditor of the county in which the real property is situated. The affidavit shall contain the following information:
    (1) the decedent's date of death;
    (2) whether the decedent died testate or intestate; and
    (3) the affiant's interest in the real property.
    In addition, if the (b) This subsection applies in the case of a decedent who died testate. In addition to the other information that must be contained in the affidavit prepared and filed under

subsection (a), the affiant must attach a certified copy of the decedent's will to the affidavit. However, if the will has been probated or recorded in the county in which the real property is located, the affiant, in lieu of attaching a certified copy of the will, shall state that fact in the affidavit and indicate the volume and page of the record where the will may be found.
     (c) This subsection applies in the case of a decedent who executed a transfer on death deed under IC 32-21-12. In addition to the other information that must be contained in the affidavit prepared and filed under subsection (a), the affidavit must state the fact that the decedent's transfer on death deed was recorded and must indicate the volume and page of the record where the transfer on death deed may be found.
    (b) (d) Except as provided in section 9 of this chapter, the county auditor shall enter a transfer of the real property in the proper transfer book after the affidavit is filed with his the county auditor's office.
    (c) (e) No transfer made under this section has the effect of conferring title upon the person procuring the transfer.

SOURCE: IC 32-21-12; (06)IN1254.1.2. -->     SECTION 2. IC 32-21-12 IS ADDED TO THE INDIANA CODE AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2006]:
     Chapter 12. Transfer on Death Deed
    Sec. 1. An individual who owns real property or an interest in real property may create an interest in the real property that is transferrable on the death of the individual by executing and recording a deed conveying the interest in the real property to one (1) or more named individuals as transfer on death beneficiaries.
    Sec. 2. Subject to section 5 of this chapter, an interest in real property transferred in a deed executed under this chapter vests upon the death of the grantor.
    Sec. 3. (a) A deed that is:
        (1) worded in substance as "A.B. transfers on death to C.D." (here describe the premises) "for the sum of" (here insert the consideration, if any); and
        (2) signed, sealed, and acknowledged by the grantor (as defined in IC 32-17-1-1);
is a good and sufficient conveyance on the death of the grantor to the grantee and the grantee's heirs and assigns.
    (b) A deed executed under this chapter must name a transfer on death beneficiary.
    (c) A deed executed under this chapter is not valid unless the deed is recorded under IC 32-21-3 in the county in which the real

property interest transferred in the deed is located.
    Sec. 4. A deed executed under this chapter is not required to be:
        (1) supported by consideration; or
        (2) delivered to the named transfer on death beneficiary;
to be effective.
    Sec. 5. Upon the death of an individual conveying an interest in real property in a deed executed and recorded under this chapter, the interest in real property is transferred to each beneficiary who:
        (1) is named in the deed; and
        (2) survives the grantor.
    Sec. 6. The transfer of an interest in real property under section 5 of this chapter must be recorded in the county in which the real property is located with the following:
        (1) A certified copy of the death certificate of the deceased grantor of the real property.
        (2) The affidavit of a named beneficiary of the deed executed by the grantor under this chapter containing the following:
            (A) The name and address of each named beneficiary who survives the grantor.
            (B) The date of the grantor's death.
            (C) A description of the real property transferred by the grantor.
            (D) The name of each named beneficiary who has not survived the grantor.
        (3) A certified copy of the death certificate of any named beneficiary who has not survived the grantor.
    Sec. 7. A transfer of an interest in real property under this chapter is subject to the following:
        (1) IC 6-1.1-5.
        (2) IC 6-1.1-5.5.
        (3) IC 6-4.1.
    Sec. 8. A deed executed under this chapter is not testamentary.