Establishes "Uniform Real Property Transfer on Death Act."
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes the Uniform Real Property Transfer on Death Act in New Jersey, providing a standardized way for individuals to transfer real estate directly to their heirs without going through probate. The act allows for the use of a ‘transfer on death’ (TOD) deed, which becomes effective upon the transferor’s death without requiring notification to or acceptance by the beneficiary. It outlines specific requirements for TOD deeds and addresses how these transfers interact with joint ownership and potential creditor claims.
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Sponsors
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4 on record
Primary sponsors
Nicholas Scutari
Cosponsors
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