(b) The signature, consent or agreement of or notice to a grantee beneficiary of a transfer-on-death deed shall not be required for any purpose during the lifetime of the record owner.
History: L. 1997, ch. 176, § 1; July 1.
___(Name of owner)___ as owner transfers on death to ___(name of beneficiary)___, as grantee beneficiary, the following described interest in real estate: (here insert description of the interest in real estate). THIS TRANSFER ON DEATH DEED IS REVOCABLE. IT DOES NOT TRANSFER ANY OWNERSHIP UNTIL THE DEATH OF THE OWNER. IT REVOKES ALL PRIOR BENEFICIARY DESIGNATIONS BY THIS OWNER FOR THIS INTEREST IN REAL ESTATE.
Instead of the words "transfer-on-death" the abbreviation "TOD" may be used.
History: L. 1997, ch. 176, § 2; July 1.
(b) A designation of the grantee beneficiary may be changed at any time prior to the death of the record owner, by executing, acknowledging and recording a subsequent transfer-on-death deed in accordance with K.S.A. 59-3502. The signature, consent or agreement of or notice to the grantee beneficiary or beneficiaries is not required. A subsequent transfer-on-death beneficiary designation revokes all prior designations of grantee beneficiary or beneficiaries by such record owner for such interest in real estate.
(c) A transfer-on-death deed executed, acknowledged and recorded in accordance with this act may not be revoked by the provisions of a will.
History: L. 1997, ch. 176, § 3; July 1.
(b) Grantee beneficiaries of a transfer-on-death deed take the record owner's interest in the real estate at death subject to all conveyances, assignments, contracts, mortgages, liens and security pledges made by the record owner or to which the record owner was subject during the record owner's lifetime including, but not limited to, any executory contract of sale, option to purchase, lease, license, easement, mortgage, deed of trust or lien, claims of the state of Kansas for medical assistance, as defined in K.S.A. 39-702, and amendments thereto, pursuant to subsection (g)(2) of K.S.A. 39-709, and amendments thereto, and to any interest conveyed by the record owner that is less than all of the record owner's interest in the property.
(c) If a grantee beneficiary dies prior to the death of the record owner and an alternative grantee beneficiary has not been designated on the deed, the transfer shall lapse.
History: L. 1997, ch. 176, § 4; July 1.
(b) As used in this section, "joint owner" means a person who owns an interest in real estate as a joint tenant with right of survivorship.
History: L. 1997, ch. 176, § 5; July 1.
History: L. 1997, ch. 176, § 6; July 1.
History: L. 1997, ch. 176, § 7; July 1.
History: L. 1997, ch. 138, § 1; Jan. 1, 1998.
History: L. 1997, ch. 138, § 2; Jan. 1, 1998.
History: L. 1997, ch. 138, § 3; Jan. 1, 1998.
History: L. 1997, ch. 138, § 4; Jan. 1, 1998.
History: L. 1997, ch. 138, § 5; Jan. 1, 1998.
(1) Insurance policy or annuity contract;
(2) contract of employment;
(3) current employee compensation or benefit program;
(4) deferred compensation or pension plan, including programs described in sections 401(a), 403(b), 457 or 501(c)(18) of the federal internal revenue code of 1986 as in effect on January 1, 2001;
(5) individual retirement plan, whether custodial or otherwise; or
(6) account established pursuant to a qualified state tuition program under section 529 of the federal internal revenue code of 1986 as in effect on January 1, 2001.
(b) The provisions of subsection (a) do not limit rights of creditors under other laws of this state.
History: L. 2001, ch. 43, § 1; July 1.