HB406 Alabama 2016 Session

This bill would adopt the Uniform Real Property Transfer on Death Act. This bill would establish a mechanism which would enable the owner of real property to pass the real property to a beneficiary at the owner's death without probate by executing and recording a transfer on death deed. This bill would also permit the owner of the real property to retain all ownership rights in the property while living, including the right to sell the property, revoke the deed, or name a different beneficiary. This bill would specify the content of the transfer on death deed and the procedure for executing and filing the deed

To adopt the Uniform Real Property Transfer on Death Act; to establish a mechanism which would enable the owner of real property to pass the real property to a beneficiary at the owner's death without probate by executing and recording a transfer on death deed; to permit the owner of the real property to retain all ownership rights in the property while living, including the right to sell the property, revoke the deed, or name a different beneficiary; to specify the content of the transfer on death deed and the procedure for executing and filing the deed.