HB147: An Act To Amend Title 12, Title 25, And Title 30 Of The Delaware Code Relating To The Uniform Real Property Transfer On Death Act.

Legislative Summary

This Act is a substitute for House Bill No. 147. Like House Bill No. 147, this Act provides a mechanism for the nonprobate transfer of real estate. This is done by permitting an owner of an interest in real estate to execute and record a transfer on death (TOD) deed designating a beneficiary who will automatically receive the real estate on the owner's death without a probate procedure. During the owner's lifetime the beneficiary of a TOD deed has no interest in the real estate and the owner retains full power to transfer or encumber the real estate or to revoke the deed.